$1,850,000
Yakima, WA 98901
MLS# 21-366
Status: Closed
17870 sqft
1 / 25
Property Description
VALUE ADD OPPORTUNITY- This 49 unit complex consisting of 44 studios and 5 one bedroom units used to be a Travelodge that was converted to the current use. There is currently a master lease in place with Yakima Neighborhood Health for 24 units on an annual renewal term of $10,296 guaranteed rents. The other 25 units the Seller (Triumph Treatment Services) is willing to do a similar sale with an annual leaseback or step aside and let a new owner take control. 20-25% below market rents along with the potential to implement the RUBS programs for utility reimbursement all make this an attractive buy.
Details
Maps
Documents
Contract Information
List Pr Description: Total List Price
Seller Disclosure: Yes
Current Price: $1,850,000
MLS Service Begin Date: 2021-02-22
Status: Closed
Sold Price: $1,850,000
Sub Type: Commercial Property
General Property Description
Lot Front Ft Approx: 250
Lot Depth Ft Approx: 100
Total Approx Lot SF: 26571
Acreage M/L: 0.61
List Price Per SqFt: 111.92
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Year Built: 1959
Total Apx SF: 17870
Location, Tax & Legal
Taxes: 9471
Tax Year: 2020
Spec Tax Designation: None
Parcel Number: 191319-24470
Area (with SubArea): 1B - SE Yakima
House Number: 110
Street Dir: S
Street Name: Naches
Street Suffix: Ave
State/Province: WA
Zip Code: 98901
Remarks & Misc
Public Remarks: VALUE ADD OPPORTUNITY- This 49 unit complex consisting of 44 studios and 5 one bedroom units used to be a Travelodge that was converted to the current use. There is currently a master lease in place with Yakima Neighborhood Health for 24 units on an annual renewal term of $10,296 guaranteed rents. The other 25 units the Seller (Triumph Treatment Services) is willing to do a similar sale with an annual leaseback or step aside and let a new owner take control. 20-25% below market rents along with the potential to implement the RUBS programs for utility reimbursement all make this an attractive buy.
Directions: On S. Naches Ave between Yakima Av and Walnut
Status Change Info
Sold Pr Description: Total Sold Price
Financing: CONV
Sold Date: 2021-06-07
Under Contract Date: 2021-03-16
Status Change Date: 2021-06-08
Sold Price: $1,850,000
Basement
None: 1
Property Information
Sprinkler System: Wet
# Onsite Uncov Park: 26
Domestic Water
Public Water: 1
Who Pays Costs
Maint Struct: L
Maint Roof: L
Maint Ext Walls: L
Maint Grounds: L
Maint Interior: L
Main Heat A/C: L
RE Tax: L
Real Prop Ins: L
Utilities: L
Common Area: L
Air Conditioning
Wall: 1
Lot Size
.51 - .75 Acres: 1
Foundation
Concrete: 1
Heat
Wall: 1
Sewage System
Connected: 1
Construction Style
Block: 1
Zoning
C - Commercial: 1
Roof
Composition: 1
Lockbox
Agent Remarks: 1
Lot Features
Bus Line: 1
Floor Coverings
Carpets: 1
Vinyl: 1
Sq Ft Source
County Assessor: 1
Terms
Cash: 1
Conventional: 1
Property Features
Air Conditioning: Wall
Basement: None
Construction Style: Block
Domestic Water: Public Water
Floor Coverings: Carpets; Vinyl
Foundation: Concrete
Heat: Wall
Lockbox: Agent Remarks
Lot Features: Bus Line
Lot Size: .51 - .75 Acres
Roof: Composition
Sewage System: Connected
Sq Ft Source: County Assessor
Terms: Cash; Conventional
Zoning: C - Commercial
Supplements
Building is fully sprinkled (helps lower insurance costs), has two coin operated laundry rooms as well as a common area rec room and kitchen with a stove with a wet suppression system. Each unit comes with a mini fridge, microwave and bed frame (no stoves in the units). Building has had many upgrades done in the last 5 years including: New roof in 2015 as well as LVP flooring in all the units in 2015. 3 new metal staircases installed in 2017 parking lot fully redone with new pavement in 2016. All units have HVAC units that heat and cool. New private and secured mailboxes and brand new 100 gal furnace installed in 2020.
PLEASE SEE MARKETING PACKAGE FOR FULL FINANCIAL INFORMATION
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Listing Office: Keller Williams Yakima Valley
Last Updated: September - 07 - 2024
Property profiling information contained herein is believed to be accurate, but may contain approximations or estimates where appropriate. The information contained herein is not guaranteed. This information is provided for the sole use and benefit of those authorized to access Yakima Association of Realtors® ('YAR') Multiple Listing Service ('MLS') information, and may not be reproducerepresened to third parties as information produced, warranted, or represented by YAR or MLS to be guaranteed.