The Perch is an 18-unit multifamily community in Hoquiam, Washington. Acquired at $78,000 per unit and a 9.25% cap rate, the property consists of six buildings across 2.5 acres, featuring spacious two-bedroom units with strong in-place cash flow and meaningful value-add potential. Perched on a hilltop overlooking the Chehalis River, The Perch is widely regarded as one of the area's most desirable multifamily assets.

Planned capital improvements to the foundations and electrical systems will further strengthen the property's long-term performance, with a projected 2X+ equity multiple over an 18–48 month hold period.

The Perch marks the fifth acquisition in the Jones Development portfolio and reflects our continued commitment to identifying high-performing opportunities across secondary Pacific Northwest markets.