Five-Plex Apartment Building with Private
For Sale
$684,999
4110 W Kennewick Ave, Kennewick, WA 99336
MULTI_FAMILY - Kennewick, WA
Property Size3,680 SF
Lot Size0.31 Acres
Price / SF$186.14
Days on Market121
Property Features for 4110 W Kennewick Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI-FAMILY RE
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 8, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 7, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 4
Parking features
Off Street
Interior features
Carpets, Eat-in Kitchen, New Paint
Appliances
Range/Oven, Refrigerator
Subdivision
Kennewick West
Lot features
Loc in City Limits, Plat Recorded, Recorded Plat Map
Elementary school district
KENNEWICK
Middle school district
KENNEWICK
High school district
KENNEWICK
Directions
Union to Kennewick Ave
Standard status
Active
APN
103892020010004
Size
3,680 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3550
Utilities
Utilities
Electricity Available
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
private patios
storage
Building Details
Year built
1959
Number of units
5
Flooring type
Carpet
Building materials
Wood Siding
Listing Agency:
The Schneider Realty Group
50936662
Listed By:
Amy Schneider · License #25453
(509) 366-6221
Added: Apr 15
Changed: Aug 3
Last Checked: Aug 13 at 8:06AM
MLS# 292164
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-plex apartment building offers a mix of four two-bedroom, one-bath units and one studio unit. Two of the 2 bed/1 bath units measure 832 SF, while the other two measure 672 SF, and some of the 2 bed/1 bath units include private patios with additional storage in select units. The studio is about 300 SF. There is also an additional space that was used for laundry and storage, which could be converted into another studio apartment.
The property is on a 0.309-acre lot and contains 3,680 SF. Constructed in 1959 with wood siding, the building has carpets and an eat-in kitchen area, and it has been recently painted. Heating is electric, with wall and window units for cooling. Off-street parking is available, and utilities include electricity, with public water.
Zoning is MULTI-FAMILY RE, supporting continued residential use with room for potential configuration adjustments through the existing laundry/storage conversion concept.
The property is on a 0.309-acre lot and contains 3,680 SF. Constructed in 1959 with wood siding, the building has carpets and an eat-in kitchen area, and it has been recently painted. Heating is electric, with wall and window units for cooling. Off-street parking is available, and utilities include electricity, with public water.
Zoning is MULTI-FAMILY RE, supporting continued residential use with room for potential configuration adjustments through the existing laundry/storage conversion concept.
Key Highlights
- Five‑plex with four 2 bed, 1 bath units plus one studio
- Two 2 bed/1 bath units at 832 SF and two at 672 SF
- Studio is about 300 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,353
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,060
$567.1K
Cap Rate 7%
$405,043
$405.0K
Cap Rate 9%
$315,033
$315.0K
Market Conditions
NOI Build-Up for 3,680 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.5K $15.36/SF
− Vacancy
−$5.0K −$1.35/SF
EGI
$51.6K $14.01/SF
− OpEx
−$23.2K −$6.30/SF
NOI
$28.4K $7.70/SF
Area
Benton County, WA
Vacancy
8.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$567,060
Cap Rate 7%
$405,043
Cap Rate 9%
$315,033
Alternative Uses
Best Use
Apartment 5plus
$405.0K
$354.4K – $472.6K
NOI $28,353 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.1K – $1.19M
NOI $71,449 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-plex apartment building in multi-family zoning with electric heat, off-street parking, and private patios in select units.
Where is this apartment building located?
The property is located at 4110 W Kennewick Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $684,999.
What are key features of this property?
This property features: Five‑plex with four 2 bed, 1 bath units plus one studio; Two 2 bed/1 bath units at 832 SF and two at 672 SF; Studio is about 300 SF
