Two Duplex Rental
For Sale
$1,100,000
102 Garden Hill, Elma, WA 98541
Four rental units across adjoining parcels with City water and septic systems in place.
Property Size5,088 SF
Lot Size8.99 Acres
Price / SF$216.19
Days on Market308
Property Features for 102 Garden Hill
General Information
Standard status
Active
Size
5,088 SF
Lot size
8.99 Acres
Property subtype
Multi-family
Zoning
GR
Additional Details
Business Included
No
Road Access
Yes
Multifamily Units
4
Building Details
Year Built
1979
Listing Agency:
Riley Jackson Real Estate Inc.
Listed By:
Kayci Rebal
(253) 604-6000
Source:
Skylineproperties
Added: Sep 26, 2025
Changed: Jul 28
Last Checked: Jul 29 at 4:50PM
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 Riley Jackson Real Estate Inc.
Investment Insights
Based on property information with market context.
Two duplexes providing four total rental units are situated across three adjoining parcels totaling 8.99 acres, all under GR - General Residential zoning. The property is served by City water, with septic systems currently in place. Sewer connections are nearby, and the buyer is to verify availability and capacity. No floodplain issues have been reported.
The site has ample frontage on Garden Hill Rd, supporting convenient access and additional layout flexibility. Current NOI is $40,281, and rents are slightly below market.
In addition to the in-place rental income, the adjoining parcels include areas of commercial-grade alder timber, adding another value component. Shown by appointment only; please do not disturb tenants.
The site has ample frontage on Garden Hill Rd, supporting convenient access and additional layout flexibility. Current NOI is $40,281, and rents are slightly below market.
In addition to the in-place rental income, the adjoining parcels include areas of commercial-grade alder timber, adding another value component. Shown by appointment only; please do not disturb tenants.
Key Highlights
- Two duplexes offering 4 total rental units on three adjoining parcels totaling 8.99 acres (GR - General Residential zoning).
- Current NOI of $40,281 with rents slightly below market, creating room for rent adjustments.
- Served by City water with septic systems in place; sewer connections are nearby (buyer to verify availability/capacity).
Financial Insights For Multifamily LT 5
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 | $70.2k | $13.80 |
| − Vacancy | −$3.9k | −$0.76 |
| EGI | $66.4k | $13.04 |
| − OpEx | −$19.9k | −$3.91 |
| NOI | $46.4k | $9.13 |
5,088 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$663.5K
$580.6K – $774.1K
NOI $46,447 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.8K
NOI $43,067 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,178 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 98541, WA
10,509
Population
4,527
Households
2.3
Avg Household Size
42
Median Age
16%
College-Educated
87%
High-School Grad
195.6 sq mi
ZIP Area
54
Density / Sq Mi
$64,659
Median Household Income
$44,457
Median Earnings
$928
Median Rent
$338,000
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?
Duplex - Four rental units across adjoining parcels with City water and septic systems in place.
Where is this duplex located?
The property is located at 102 Garden Hill Elma, WA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two duplexes offering 4 total rental units on three adjoining parcels totaling 8.99 acres (GR - General Residential zoning).; Current NOI of $40,281 with rents slightly below market, creating room for rent adjustments.; Served by City water with septic systems in place; sewer connections are nearby (buyer to verify availability/capacity).
