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Property Description
This well cared for, two-story, six-unit apartment building in North Downtown Yakima contains two 1bd/1ba units and four 2bd/1ba units, ten dedicated off- street parking spaces and a community laundry area currently being used as storage by ownership. Rents are conservatively 20% below market and ownership does not actively utilize the shared laundry room amenity for additional income. To increase cash flow new ownership can raise rents to market rate, implement a resident utility bill back system (RUBS) and offer a community laundry area for tenants. A new membrane roof was recently installed and the exterior was painted two years ago. Additional equity upside and higher rents can be achieved through light in-unit cosmetic renovations as turn over occurs. Current rents gross $49,800 annually but can easily be bumped to $60,240 not including additional income. At only $85,833 per door, take advantage of a low price per unit and a well appointed apartment building in Downtown Yakima with easily achieved upside by way of a more aggressive management strategy. Seller financing is available on request. Seller to offer 15yr. term at 7% with substantial down payment to be negotiated at time of offer.

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