Stabilized Multifamily Investment
1015 South 48th Avenue Yakima, WA 98908
1015 South 48th Avenue, Yakima, WA, 98908
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For Sale
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18-unit multifamily property in West Yakima, 100% occupied.
Property Size15,728 SF
Lot Size1.54 Acres
Price / SF$203.40
Days on Market68
Property Features for 1015 South 48th Avenue
General Information
- Standard status
- Active
- Size
- 15,728 SF
- Lot size
- 1.54 Acres
- Property subtype
- Multifamily
Listing Agency
RE/MAX Premier Group - Chehalis
(360) 269-2083
Listed by
Israel Jimenez · License #WA 138262
Source
Crexi
Added: May 12 Checked: Jul 16 at 3:53 am
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 - Chehalis
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.
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
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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 $3,199,000.
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.
