$521,000
Yakima, WA 98902
MLS# 24-1026
Status: Closed
2971 sqft
1 / 10
Property Description
This OFFERING is for the opportunity to purchase a well-positioned five-unit apartment building and single-family home on a one tax parcel in Central Yakima. The financials are strong, delivering a stable in-place cap rate of 9.17% and a 7.40 GRM. All Tenants have been in place long-term. Situated on a corner lot with five on-site parking spaces and in close proximity to Downtown Yakima, this deal presents a prime opportunity for an investor to purchase a well performing apartment property and single-family residence on R3 zoned land for sub-$500k. This investment delivers a solid ROI in a short amount of time. If cashed-out, this property will pay for itself in 7 years based on current income stream.
Details
Maps
Documents
Contract Information
Current Price: $521,000
MLS Service Begin Date: 2024-05-13
Status: Closed
Sold Price: $521,000
Sub Type: Apartment
Seller Disclosure: Yes
General Property Description
# Units: 6
Gross Mo Income: 5805
Year Built: 1925
Garage Capacity: 1
Acreage M/L: 0.16
Total Apx SF: 2971
Realtor.COM Type: Multi-Family
Location, Tax & Legal
Area (with SubArea): 3A - Btwn S 1st/16th
House Number: 302
Street Dir: S
Street Name: 8th
Street Suffix: Ave
State/Province: WA
Zip Code: 98902
Status Change Info
Sold Date: 2024-08-12
Under Contract Date: 2024-05-22
Status Change Date: 2024-08-12
Sold Price: $521,000
Financing: CONV
Unit A
Unit A # Units: 1
Unit A # BA: 1
Unit A Approx Sq Ft: 359
Unit A Monthly Rent$: 825
Unit B
Unit B # Units: 1
Unit B # BR: 1
Unit B # BA: 1
Unit B Approx Sq Ft: 359
Unit B Monthly Rent$: 895
Unit C
Unit C # Units: 3
Unit C #BR: 1
Unit C #BA: 1
Unit C Approx Sq Ft: 540
Unit C Monthly Rent$: 880
Unit D
Unit D # Units: 1
Unit D # BR: 2
Unit D # BA: 1
Unit D Approx Sq Ft: 704
Monthly Rent$: 1400
Property Features
Construction Style: Block
Domestic Water: Public Water
Heat: Baseboard; Electric; Wall
Lockbox: Agent Remarks
Rental Amenities: Laundry
Roof: Composition
Sewage System: Connected
Siding: Wood
Terms: Cash; Commercial
Possession: Close Of Escrow
Zoning: R3 - Multi Fam Res
Legal Description 
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: September - 06 - 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.