Duplex Portfolio with
For Sale
$2,300,000
10216 Old Naches Hwy, Naches, WA 98937
MULTI_FAMILY - Naches, WA
Property Size11,616 SF
Lot Size0.25 Acres
Price / SF$198
Days on Market10
Property Features for 10216 Old Naches Hwy
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R2 - 2 Fam Res
Elementary school district
Naches
Middle school district
Naches
High school district
Naches
Directions
West on hwy 12, right onto Naches Ave (stoplight), left onto 3rd St, right onto Old Naches Highway, portfolio on left.
Subdivision
7B - Naches/L Naches
Standard status
Active
APN
17140113413 +
Size
11,616 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15985
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
2001
Number of units
11
Building materials
Frame
Roof type
Composition
Listing Agency:
Coldwell Banker Cascade Real Estate · Coldwell Banker Real Estate
(509) 248-5050
Listed By:
Ivonne Young · License #79385
(509) 248-5050
Added: Jul 31
Changed: Aug 1
Last Checked: Aug 9 at 7:06AM
MLS# 26-2325
Copyright © 2026 Yakima Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex-focused rental portfolio includes five income-producing properties sold together: four duplexes and one triplex. The portfolio comprises duplexes at 10216 Old Naches Hwy, 10218 Old Naches Hwy, and 10220 Old Naches Hwy, each built in 2001. Each duplex provides 2,112 square feet and includes two 2-bedroom, 1.75-bath units with private attached garages for every unit. The triplex at 10230 Old Naches Hwy was built in 1996 and offers 3,168 square feet with three 2-bedroom, 1-bath units, each with an attached garage. Completing the portfolio is the duplex at 10236 Old Naches Hwy, also built in 1996, offering 2,112 square feet with two 2-bedroom, 1.75-bath units and an attached garage for each unit.
The properties are located in the Naches School District. The exterior framing is wood/frame, with electric heating and composition roofing. Water service is public.
Overall, the offering combines established, tenant-occupied multifamily assets into one purchase to support an investor’s portfolio expansion or entry.
The properties are located in the Naches School District. The exterior framing is wood/frame, with electric heating and composition roofing. Water service is public.
Overall, the offering combines established, tenant-occupied multifamily assets into one purchase to support an investor’s portfolio expansion or entry.
Key Highlights
- Four duplexes and one triplex sold together as a portfolio
- Duplexes at 10216, 10218, and 10220 Old Naches Hwy built in 2001
- Each 2001 duplex provides 2,112 SF with two 2‑bedroom, 1.75‑bath units and attached garages
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
$130,420
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
5.67%
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%
$2,608,400
$2.6M
Cap Rate 7%
$1,863,143
$1.9M
Cap Rate 9%
$1,449,111
$1.4M
Market Conditions
NOI Build-Up for 11,616 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
$199.3K $17.16/SF
− Vacancy
−$13.0K −$1.12/SF
EGI
$186.3K $16.04/SF
− OpEx
−$55.9K −$4.81/SF
NOI
$130.4K $11.23/SF
Area
Yakima County, WA
Vacancy
6.53%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$2,608,400
Cap Rate 7%
$1,863,143
Cap Rate 9%
$1,449,111
Alternative Uses
Best Use
Multifamily LT 5
$1.86M
$1.63M – $2.17M
NOI $130,420 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,524 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $165,126 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 98937, WA
4,423
Population
2,525
Households
1.8
Avg Household Size
43
Median Age
21%
College-Educated
87%
High-School Grad
864.9 sq mi
ZIP Area
5
Density / Sq Mi
$63,646
Median Household Income
$39,094
Median Earnings
$888
Median Rent
$343,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Portfolio of four duplexes and one triplex sold together with long-term tenants and attached garages for every unit.
Where is this duplex located?
The property is located at 10216 Old Naches Hwy Naches, WA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Four duplexes and one triplex sold together as a portfolio; Duplexes at 10216, 10218, and 10220 Old Naches Hwy built in 2001; Each 2001 duplex provides 2,112 SF with two 2‑bedroom, 1.75‑bath units and attached garages
