1011-1015 S 48th Ave - Apartments FOR SALE


Yakima, WA 98908
$3,199,000 USD
360-269-2083
1011-1015 S 48th Ave, Yakima, WA for Sale
$3,199,000 USD
Apartments - FOR SALE
1/36
null | 4.59% Cap Rate

1011-1015 S 48th Ave
Yakima, WA 98908


HIGHLIGHTS

  • Stabilized 18 unit multifamily asset in an established West Yakima rental corridor
  • 100% occupied with current scheduled rent exceeding 2025 reported rental income
  • Two bedroom dominant unit mix across a 16 unit apartment property plus duplex
  • Approximately 1.54 acres, R 3 zoning, 36 parking spaces, covered parking, and irrigated grounds
  • Meaningful capital improvements and ongoing unit remodels, with proximity to major healthcare, education, employment, and retail demand drivers

OVERVIEW

The Eisenhower Complex is a stabilized 18 unit multifamily investment located in one of West Yakima’s most established rental corridors. The offering includes a 16 unit apartment property plus a duplex, creating a two bedroom dominant unit mix with broad renter appeal. The property is currently 100% occupied, with current scheduled rent exceeding 2025 reported cash basis rental income and additional income generated from coin operated laundry. Ideally positioned near MultiCare Yakima Memorial Hospital, Yakima Valley College, Wilson Middle School, Eisenhower High School, West Valley Middle School, shopping, dining, parks, fitness centers, golf courses, wineries, and Yakima Air Terminal, the property benefits from convenient access to major healthcare, education, employment, retail, and daily service demand drivers. The combined property features R 3 zoning, approximately 1.54 total acres, approximately 15,728 total building square feet, 36 total parking spaces including covered parking, and irrigated grounds. The duplex includes two spacious 2 bedroom, 1 bathroom units of approximately 1,001 square feet each, with carport and driveway parking. Ownership has completed meaningful capital improvements and ongoing unit remodels, supporting tenant appeal, durability, and overall rental desirability. Certain 2025 reported expenses reflect non recurring capital work, creating potential upside when evaluating normalized operations. With stable in place performance, scheduled rent above 2025 reported cash basis rental income, a marketable unit mix, meaningful reinvestment, and a strong West Yakima location, the Eisenhower Complex represents a well maintained, strategically positioned multifamily investment opportunity.

FOR SALE DETAILS

PRICE

$3,199,000 USD

PRICE/SF

$203 USD /SF

# OF UNITS

18

PRICE/UNIT

$177,722

CAP RATE

4.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eisenhower Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,082 SF

ZONING

R3

APN/PARCEL ID

18132723402,18132723403,18132723404

ASK ABOUT THIS PROPERTY

Israel JimenezRe/max Premier GroupMore Info
360-269-2083

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Israel JimenezRe/max Premier GroupMore Info
360-269-2083

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.