Stabilized 18-Unit Multifamily
1011 1013 1015 S 48th Avenue Yakima, WA 98908
1011 1013 1015 S 48th Avenue, Yakima, WA, 98908
$3,199,000
For Sale
$3,199,000
Stabilized 18-unit complex with 16 apartments and a duplex, currently 100% occupied.
Property Size15,728 SF
Lot Size1.54 Acres
Price / SF$203.40
Days on Market72
Property Features for 1011 1013 1015 S 48th Avenue
General Information
- Standard status
- Active
- Size
- 15,728 SF
- Lot size
- 1.54 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1996
Listing agency
RE/MAX Premier Group
(360) 996-1010
Listed by
Israel Jimenez · License #138262
(360) 996-1010
Source
Multifamilyspecialist
Added: May 12 Updated: Jul 21 at 2:44AM Checked: Jul 21 at 2:44AM
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
Investment Insights
Based on property information with market context.
The Eisenhower Complex is a stabilized 18-unit multifamily property for sale, composed of a 16-unit apartment building plus a duplex. The duplex provides two spacious two-bedroom, one-bath units, each with carport and driveway parking. The property also includes coin-operated laundry income. Ownership has completed meaningful capital improvements and ongoing unit remodels, supporting durable, renter-ready housing.
The complex is located in West Yakima near MultiCare Yakima Memorial Hospital, Yakima Valley College, Wilson & West Valley Middle School, Eisenhower High School, shopping, dining, parks, gyms, golf courses, and Yakima Air Terminal. It offers a total of 36 parking spaces, including covered parking, along with irrigated grounds.
The complex is located in West Yakima near MultiCare Yakima Memorial Hospital, Yakima Valley College, Wilson & West Valley Middle School, Eisenhower High School, shopping, dining, parks, gyms, golf courses, and Yakima Air Terminal. It offers a total of 36 parking spaces, including covered parking, along with irrigated grounds.
Key Highlights
- 18‑unit multifamily complex (16 apartments plus a duplex) in West Yakima, built in 1996.
- Currently 100% occupied with scheduled rent exceeding $25 in reported rental income, plus additional coin‑op laundry income.
- Two 2‑bed, 1‑bath duplex units, each approximately 1,000 SF, with carport and driveway parking.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.1k | $19.08 |
| − Vacancy | −$20.6k | −$1.31 |
| EGI | $279.5k | $17.77 |
| − OpEx | −$125.8k | −$8.00 |
| NOI | $153.7k | $9.77 |
15,728 SF · lease $19.08/SF/yr · vacancy 6.87% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,711 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.73M
NOI $223,579 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Stabilized 18-unit complex with 16 apartments and a duplex, currently 100% occupied.
Where is this apartment building located?
The property is located at 1011 1013 1015 S 48th Avenue Yakima, WA.
What is the asking price?
The asking price for this property is $3,199,000.
What are key features of this property?
This property features: 18‑unit multifamily complex (16 apartments plus a duplex) in West Yakima, built in 1996.; Currently 100% occupied with scheduled rent exceeding $25 in reported rental income, plus additional coin‑op laundry income.; Two 2‑bed, 1‑bath duplex units, each approximately 1,000 SF, with carport and driveway parking.
