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 m***@cbyakima.com Show Phone

Listed By: Ivonne Young · License #79385 Show Phone

Added: Jul 31 Changed: Sep 7 Last Checked: Sep 26 at 7:06PM

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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 multifamily portfolio includes five income-producing properties: four duplexes and one triplex offered together. The duplexes at 10216, 10218, and 10220 Old Naches Hwy were built in 2001 and each contains 2,112 square feet with two 2-bedroom, 1.75-bath units. The duplex at 10236 Old Naches Hwy was built in 1996 and has the same unit configuration and building size. Each duplex unit includes a private attached garage.

The triplex at 10230 Old Naches Hwy was also built in 1996 and contains 3,168 square feet, with three 2-bedroom, 1-bath units and an attached garage for each unit. The portfolio totals 11,616 square feet and includes long-term tenants in place. The properties are located in the Naches School District and use public water, frame construction, electric heating, and composition roofs.

Key Highlights

• Four duplexes and one triplex offered as a single portfolio
• Total portfolio size of 11,616 square feet
• Duplexes contain two 2‑bedroom, 1.75‑bath units each

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 (±1% cap)

NOI $130,420 @ 7.0% cap · market cap 5.67%

Second Best

Apartment 5plus

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,524 @ 7.0% cap · market cap 4.94%

Theoretical Best

Office A

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,126 @ 7.0% cap · market cap 7.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Electrical Service Auto Parts Store Big Box & Wholesale Store Building Supply Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

121

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Four duplexes and one triplex provide an established multifamily rental portfolio with attached garages and tenants in place.

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 offered as a single portfolio; Total portfolio size of 11,616 square feet; Duplexes contain two 2‑bedroom, 1.75‑bath units each