20-Unit Apartment
For Sale
$2,500,000
1020 20TH, Yakima, WA 98902
Fully occupied community with one-bedroom layouts and surface parking in Yakima, Washington.
Property Size13,300 SF
Price / SF$187.97
Days on Market202
Property Features for 1020 20TH
General Information
Standard status
Active
Size
13,300 SF
Net Rentable
13,300 SF
Total Parking Spaces
32
Property subtype
Multi-family
Occupancy
100%
Net Operating Income
$157,244
Financials
Asking Price
$2,500,000
Cap Rate
6.29%
Units
Unit Mix
20 x 1BR
Multifamily Units
20
Building Details
Year Built
1971
Listing Agency:
Northmarq Multifamily,LLC
Listed By:
Steven Fischer
(253) 604-6000
Source:
Skylineproperties
Added: Feb 12
Changed: Sep 2
Last Checked: Aug 31 at 8:46PM
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 Northmarq Multifamily,LLC
Investment Insights
Based on property information with market context.
This 20-unit apartment community at 1020 20TH in Yakima, Washington, offers an all one-bedroom configuration within approximately 13,300 net rentable square feet. Units average 665 SF, and the property was built in 1971. Current occupancy is 100%, providing an established operating profile for the next owner.
The property includes 32 surface parking spaces. Yakima’s economy is supported by agriculture, healthcare, and food processing, while limited new multifamily construction contributes to the submarket’s housing context. The asset reports a 6.29% in-place capitalization rate based on $157,244 of net operating income.
The property includes 32 surface parking spaces. Yakima’s economy is supported by agriculture, healthcare, and food processing, while limited new multifamily construction contributes to the submarket’s housing context. The asset reports a 6.29% in-place capitalization rate based on $157,244 of net operating income.
Key Highlights
- 20‑unit apartment community with an all one‑bedroom unit mix
- 100% occupied at the time of listing
- Approximately 13,300 net rentable square feet
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
$129,982
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
5.20%
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%
$2,599,640
$2.6M
Cap Rate 7%
$1,856,886
$1.9M
Cap Rate 9%
$1,444,244
$1.4M
Market Conditions
NOI Build-Up for 13,300 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
$253.8K $19.08/SF
− Vacancy
−$17.4K −$1.31/SF
EGI
$236.3K $17.77/SF
− OpEx
−$106.3K −$8.00/SF
NOI
$130.0K $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 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%
$2,599,640
Cap Rate 7%
$1,856,886
Cap Rate 9%
$1,444,244
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.62M – $2.17M
NOI $129,982 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,064 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
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?
Apartment building - Fully occupied community with one-bedroom layouts and surface parking in Yakima, Washington.
Where is this apartment building located?
The property is located at 1020 20TH Yakima, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 20‑unit apartment community with an all one‑bedroom unit mix; 100% occupied at the time of listing; Approximately 13,300 net rentable square feet
