Cashmere Business Park Apartments
A rare live/work opportunity in one of Central Washington’s most sought-after small-town markets. Six of the 20 units feature high-clearance garage bays, offering unmatched flexibility for business owners, creatives, and gear-driven lifestyles.
Prime Downtown Cashmere Location
Nestled in the heart of Cashmere’s charming and walkable downtown, Cashmere Business Park Apartments benefits from a central location with proximity to local restaurants, shops, and amenities. Independence Way connects directly to Cottage Avenue, providing excellent visibility and convenient access for both residential and commercial tenants. The site is also just minutes from Highway 2, offering quick connections to Wenatchee, Leavenworth, and the broader Wenatchee Valley.
Unique Live-Work Layout with Garage Bays
The property features 20 units, 6 of which are configured with oversized overhead doors and direct-access garage bays that are 16’ tall, a less common and highly desirable amenity for tenants who operate small businesses or require secure storage. This layout is ideal for Cashmere’s mix of local entrepreneurs, tradespeople, and lifestyle tenants who value flexible space for work, hobbies, or vehicles.
Clear Path to Operational Upside
Current operations leave room for improved property performance through professional management, loss-to-lease recovery, and implementation of market-standard utility billbacks. With the right improvements, the property offers immediate cash flow growth and long-term value creation in a tight rental market.
Strategic Location in a Growing Regional Hub
Located between Wenatchee and Leavenworth, Cashmere is a key residential and commercial node in the Wenatchee Valley. The city benefits from regional tourism, agricultural strength, and outdoor recreation. With Wenatchee’s growth as a healthcare and tech employment center and Leavenworth’s continued draw as a destination town, Cashmere is positioned as a stable and affordable alternative for residents and businesses alike.
Offering Details
Offered at $2,450,000, Cashmere Business Park Apartments features 20 units in downtown Cashmere, WA. Six of the 20 units offer high-clearance overhead doors, which are ideal for Cashmere's entrepreneurs and tradespeople.
Access DocumentsProperty Summary
Property Name
Cashmere Business Park Apartments
Address
219-259 Independence Way
City, State, Zip
Cashmere, WA 98815
Year Built
1984
Parcel ID
231904790200
Zoning
Downtown Business
Acreage
0.73
# of Units
20
SF Per Unit
1103
Net Rentable Space
22,050 SF
Pricing Summary
Price
$2,450,000
Price / Unit
$122,500
Price / SF
$111.11
Current CAP Rate
5.13%
Proforma CAP Rate
9.58%
The Opportunity
Small-Town Asset Near Dynamic Wenatchee Valley Growth
Located at 219-259 Independence Way in the heart of downtown Cashmere, Cashmere Business Park Apartments provides a rare combination of residential and commercial appeal in one of Central Washington’s most desirable small-town markets. The asset includes 20 units, 6 of which feature high-clearance garage bays with overhead doors, offering tenants the flexibility to operate home-based businesses, store equipment, or simply enjoy additional private space. This unique configuration is well suited to Cashmere’s diverse tenant base, which includes tradespeople, remote workers, and entrepreneurs drawn to the area’s lifestyle and affordability.
Cashmere’s downtown continues to evolve with new businesses, restaurants, and community investment, making it an increasingly vibrant place to live and work. The property’s location just off Cottage Avenue puts it steps from Main Street attractions, while Highway 2 provides quick access to Wenatchee (15 minutes east) and Leavenworth (20 minutes west). This regional connectivity, combined with small-town charm, is fueling population growth and rising demand for quality rental housing in the area.
As part of the larger Wenatchee Valley economic corridor, Cashmere enjoys the benefits of Wenatchee’s expanding healthcare and technology sectors, as well as the year-round tourism economy that supports Leavenworth. The result is a stable, growing rental market with limited new supply—creating an ideal scenario for investors seeking long-term returns and potential for operational improvement in a well-located, high-demand asset.
The Location
Downtown Cashmere location equidistant between Wenatchee and Leavenworth
219-259 Independence Way, Cashmere, WA 98815Photographs
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Market Overview
Cashmere, WA
Cashmere, Washington, is a charming small town nestled in the heart of the Wenatchee Valley, surrounded by the stunning Cascade Mountains. With a population of just under 4,000, it offers a tight-knit community vibe while being close to larger cities like Wenatchee and Leavenworth. Known for its outdoor recreational opportunities, Cashmere is a paradise for those who love hiking, river rafting, and enjoying the scenic beauty of the Pacific Northwest. The town’s historic downtown, local cideries, and attractions like the Aplets & Cotlets factory give it a unique character that blends rural tranquility with cultural charm.
Cashmere is ideal for those seeking a peaceful lifestyle without sacrificing access to amenities. Its excellent school system and safe, family-friendly environment make it an appealing destination for families. As more people seek affordable housing in desirable, smaller towns within commuting distance to larger cities, multifamily properties provide stable, long-term housing options. Furthermore, Cashmere’s relatively low property prices compared to larger nearby areas offer an opportunity for investors to enter the market at a lower cost, with the potential for strong returns as the area continues to grow.
Reasons To Invest Here
- 2.60%
Average Rent Growth
(Q3 2025)
- 90.70%
Average Occupancy
(Q3 2025)
- 3.85%
Unemployment Rate
(Q3 2025)
- $1,592
Average Market Rent
(Q3 2025)
- 3.3K
Est. Population
(2025)
- $63.8K
Median HH Income
(City of Cashmere)
- 2.60%
Home Price Growth
(Q3 2025)
- 1.60%
Est. Population Growth
(2025)
Sources available upon request.
Our Team
Multifamily Mason
Multifamily Mason is a brokerage firm specializing in multifamily property sales and advisory services within the Inland Northwest. We uphold the core values of integrity, mastery, and ownership. These principles guide all our business decisions and interactions with our clients, investors, and stakeholders.
Our extensive market knowledge, in-depth data analysis, valuable insights, and strong industry relationships have established us as trusted advisors and a go-to source for those exploring the Inland Northwest markets or investing in multifamily properties within tertiary markets.
We foster long-term relationships and prioritize our clients' best interests, even if it means delaying immediate deals. We believe in collaboration and creating opportunities for mutual success, including working with potential competitors.
Lead Broker
Mason Fiascone
Mason is the founder of Multifamily Mason and specializes in the sale and advisory services of multifamily properties across the Inland Northwest with a specific focus on Central Washington and Tri-Cities. Mason leads the sales and asset management organizations at Multifamily Mason, meaning he partners with owners, investors, and developers seeking to maximize their property returns, bringing valuable expertise to every interaction. He is committed to building long-term relationships by providing clients with market insights and unique deal opportunities.
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