$850,000
Yakima, WA 98902
MLS# 24-265
Status: Closed
6732 sqft
1 / 10
Property Description
THIS OFFERING is for the opportunity to purchase a quality constructed, seven-unit, value-add apartment building competitively priced only $133/SF. Centrally located and in close proximity to dominant east/west and north/south urban arterials this investment is poised for positive upside. The unit mix includes a single 1Bd/1Ba +/- 735SF unit and six 2Bd/1Ba +/- 950SF units accompanied by ten dedicated off-street parking spaces. The roof is ten years old and the building has a coin-op community laundry room with seven private storage units and two private garages (approximately 150SF each) currently leased as storage. The apartments are large in size with original trim and ownership has maintained them meticulously for 22 years. Increased cash-flow and heightened value can be achieved by way of minor modern updates, a more aggressive management strategy and elevating rents to market rate. Current rent rates are approximately 25% below average.
Details
Maps
Documents
Contract Information
Current Price: $850,000
MLS Service Begin Date: 2024-02-16
Status: Closed
Sold Price: $850,000
Sub Type: Apartment
Seller Disclosure: Yes
General Property Description
# Units: 7
Gross Mo Income: 6500
Year Built: 1971
Garage Capacity: 2
Acreage M/L: 0.22
Total Apx SF: 6732
Realtor.COM Type: Multi-Family
Location, Tax & Legal
Area (with SubArea): 2A - Btwn N 1st/16th
House Number: 1311
Street Name: Folsom
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Status Change Info
Sold Date: 2024-03-14
Under Contract Date: 2024-02-27
Status Change Date: 2024-03-14
Sold Price: $850,000
Financing: OTHER
Unit Information
Who Pays Electricity: T
# Parking Sp: 10
# Garages: 2
Unit A
Unit A # Units: 1
Unit A #BR: 1
Unit A # BA: 1
Unit A Approx Sq Ft: 735
Unit A Monthly Rent$: 750
Unit B
Unit B # Units: 6
Unit B # BR: 2
Unit B # BA: 2
Unit B Approx Sq Ft: 950
Unit B Monthly Rent$: 912.5
Property Features
Accessibility: Doors 32in+; Hallways 32in+
Construction Style: Frame
Domestic Water: Public Water
Heat: Baseboard; Wall
Lockbox: None
Rental Amenities: Laundry; Storage
Roof: Composition
Sewage System: Connected
Siding: Wood
Terms: Cash; Conventional; Seller Finance; Commercial
Possession: Close Of Escrow
Sq Ft Source: County Assessor
Zoning: R3 - Multi Fam Res
Plat Map 
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: September - 05 - 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.