Stabilized Multifamily Investment
For Sale
$2,990,000
1015 South 48th Avenue, Yakima, WA 98908
18-unit multifamily property in West Yakima, 100% occupied.
Property Size15,728 SF
Lot Size1.54 Acres
Price / SF$190.11
Days on Market167
Property Features for 1015 South 48th Avenue
General Information
Standard status
Active
Size
15,728 SF
Lot size
1.54 Acres
Property subtype
Residential Income
Net Operating Income
$146,742
Taxes and HOA fees
Annual Taxes
$18,296
Amenities
0, 0, 0, 0
Yes, See Remarks
Yes, Wall Furnace
Coin Op Laundry,Storage
No
Vinyl, Vinyl Plank, Carpet
Composition
Wood
Building Details
Year Built
1996
Listing Agency:
RE/MAX Premier Group
Listed By:
Israel Jimenez · License #138262
(360) 269-2083
Source:
Compass
Added: May 12
Changed: Oct 25
Last Checked: Oct 24 at 8:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Premier Group
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Investment Insights
Based on property information with market context.
The Eisenhower Complex is an 18-unit multifamily investment located in West Yakima. The property is currently 100% occupied. The offering includes a 16-unit apartment property plus a duplex, creating a two-bedroom dominant unit mix. Additional income is generated from coin-operated laundry. The property is 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, and 36 total parking spaces including covered parking. The grounds are irrigated. 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 capital improvements and ongoing unit remodels. Certain 2025 reported expenses reflect non-recurring capital work. The property has stable in-place performance, a marketable unit mix, reinvestment, and a location in West Yakima.
Key Highlights
- 100% Occupancy in a desirable West Yakima location.
- Strong rental income exceeding 2025 reported cash basis.
- Desirable unit mix dominated by two‑bedroom apartments.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,711
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,074,220
$3.1M
Cap Rate 7%
$2,195,871
$2.2M
Cap Rate 9%
$1,707,900
$1.7M
Market Conditions
NOI Build-Up for 15,728 SF
Gross rent
$300.1K $19.08/SF
− Vacancy
−$20.6K −$1.31/SF
EGI
$279.5K $17.77/SF
− OpEx
−$125.8K −$8.00/SF
NOI
$153.7K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,074,220
Cap Rate 7%
$2,195,871
Cap Rate 9%
$1,707,900
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,711 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.73M
NOI $223,579 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 98908, WA
38,205
Population
15,496
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
105.7 sq mi
ZIP Area
361
Density / Sq Mi
$80,266
Median Household Income
$43,789
Median Earnings
$1,302
Median Rent
$356,900
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
Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit multifamily property in West Yakima, 100% occupied.
Where is this apartment building located?
The property is located at 1015 South 48th Avenue Yakima, WA.
What is the asking price?
The asking price for this property is $2,990,000.
What are key features of this property?
This property features: 100% Occupancy in a desirable West Yakima location.; Strong rental income exceeding 2025 reported cash basis.; Desirable unit mix dominated by two‑bedroom apartments.
