209 S 9th Ave - Apartments FOR SALE


Yakima, WA 98902
$699,000 USD
509-480-0733
209 S 9th Ave, Yakima, WA for Sale
$699,000 USD
Apartments - FOR SALE
1/10
null | 5.85% Cap Rate

209 S 9th Ave
Yakima, WA 98902


OVERVIEW

THIS OFFERING is for the opportunity to acquire a 9-unit multifamily property in central Yakima, zoned R3. The Spanish-style building showcases "old world" architectural charm, with a central open courtyard, and mature landscaping to provide a classic and timeless aesthetic. The unit mix includes seven-1Bd/1Ba units and two-2Bd/1Ba units, complimented by a community laundry room with storage units and a 600SF+/- detached garage. Recent capital improvements include a new exterior renovation inclusive of paint, upgraded in-unit heaters, and new electrical panels in all units (installed in 2024) to reduce future cap-ex maintenance requirements while positioning the property for stronger future operational performance. Current rents are below market, offering significant upside by way of rental adjustments, expense optimization (current expenses are 47% of GSI), and implementation of a RUBS (Ratio Utility Billing System). This property presents a compelling investment opportunity in a desirable central location. To further enhance the investment appeal, attractive SELLER FINANCING terms are available.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$121 USD /SF

# OF UNITS

9

PRICE/UNIT

$77,667

CAP RATE

5.85%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

R3

APN/PARCEL ID

181324-43541

ASK ABOUT THIS PROPERTY

Nick MayerAlmon Commercial Real EstateMore Info
509-480-0733

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Nick MayerAlmon Commercial Real EstateMore Info
509-480-0733

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