5-Unit Apartment
For Sale
$659,999
4110 W Kennewick Ave, Kennewick, WA 99336
Residential Income, Kennewick, WA
Property Size3,680 SF
Lot Size0.31 Acres
Price / SF$179.35
Days on Market174
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 2, Bathroom 3, Bedroom 7, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 4, Bathroom 2, Bathroom 5
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
Wall Unit(s), Window Unit(s)
Water source
Public
Amenities
private patios
additional 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: Sep 16
Last Checked: Oct 5 at 4:06AM
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 5-unit apartment property contains four two-bedroom, one-bath apartments and one studio. The two-bedroom units include two apartments measuring 832 SF and two measuring 672 SF; several have private patios, with some offering additional storage. The studio is about 300 sf. Total building area is 3,680 square feet on a 0.309-acre parcel.
An additional area formerly used for laundry and storage is included within the property. The building was recently painted and features carpet flooring, electric heating, wall and window unit cooling, ranges, refrigerators, and off-street parking. Public water and electricity are available. The property was built in 1959 and is zoned MULTI-FAMILY RE.
Located at 4110 W Kennewick Ave in Kennewick, the property is positioned off Union in the 99336 ZIP code.
An additional area formerly used for laundry and storage is included within the property. The building was recently painted and features carpet flooring, electric heating, wall and window unit cooling, ranges, refrigerators, and off-street parking. Public water and electricity are available. The property was built in 1959 and is zoned MULTI-FAMILY RE.
Located at 4110 W Kennewick Ave in Kennewick, the property is positioned off Union in the 99336 ZIP code.
Key Highlights
- 5‑unit apartment property with four two‑bedroom units and one studio
- Four two‑bedroom apartments: two at 832 SF and two at 672 SF
- Studio apartment measures 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
4.30%
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 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.1K – $1.19M
NOI $71,449 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
815
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with four two-bedroom apartments, one studio, private patios, and MULTI-FAMILY RE zoning.
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 $659,999.
What are key features of this property?
This property features: 5‑unit apartment property with four two‑bedroom units and one studio; Four two‑bedroom apartments: two at 832 SF and two at 672 SF; Studio apartment measures about 300 sf
