Kennewick Four-Plex Investment
1115 N Cleveland Street, Kennewick, WA 99336
- Added:
- Apr 2, 2026
- Days on Market:
- 57
- Last Refresh:
- May 28 at 3:06 pm
Property Features for 1115 N Cleveland Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI-FAMILY RE
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 8
- Parking features
- Off Street
- Patio and Porch features
- Patio
- Exterior features
- Lighting, Deck & Patio, Sprinkler
- Appliances
- Dishwasher, Refrigerator, Range
- Standard status
- Active
- Size
- 4,032 SF
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4603
Utilities
- Heating system
- Electric (Heating), Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1978
- Number of units
- 4
- Flooring type
- Vinyl, Tile, Utility closet, Carpet, Breakfast bar, Extra storage
- Roof type
- Composition
Listing agent Joyce Wilder Halsey (509) 546-1902
Listing office PNW Collective / Real Broker 507 Knight St, Richland, WA (509) 204-7360
Listing date Apr 2, 2026
MLS# 290154
Listing URL
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey Investment: Fully rented four‑plex provides immediate income with established tenants.
- Spacious Units: Each unit offers 1,008 sq ft with 2 bedrooms and 1 bathroom.
- Complete Appliance Package: Each unit includes a kitchen equipped with a dishwasher, refrigerator, and range.
- Private Outdoor Space: Each unit features a private lower‑level patio or upper‑level terrace.
- Convenient Location: Close to Kennewick amenities with easy highway access.
- Portfolio Expansion Potential: An additional 4‑plex is available next door.
Overview
This well-maintained four-plex is located in Kennewick and offers strong income potential. Each of the four units features 1,008 square feet of living space, with 2 bedrooms and 1 bathroom. The units have thoughtfully designed floor plans. Each unit includes a kitchen equipped with a pantry, breakfast bar, dishwasher, range, and refrigerator, as well as a dedicated dining area and a large living room that provides slider access to either a private lower-level patio or an upper-level terrace. Additional features include generous bedroom closets, utility closets for washer and dryer, yard space, and ample off-street parking. The property is fully rented with established tenants, making it a turnkey investment. It is conveniently located near Kennewick amenities and offers easy highway access off Edison. The property is zoned for multi-family residential use.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$389.7K
NOI $35,072 @ 9.00% cap · cautious / downside scenario
Moderate
$501.0K
NOI $35,072 @ 7.00% cap · market / base-case scenario
Aggressive
$701.4K
NOI $35,072 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.7k | $13.56 |
| − Vacancy | −$4.6k | −$1.13 |
| EGI | $50.1k | $12.43 |
| − OpEx | −$15.0k | −$3.73 |
| NOI | $35.1k | $8.70 |
4,032 SF · lease $13.56/SF/yr · vacancy 8.36% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$501.0K
$438.4K – $584.5K
NOI $35,072 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$443.8K
$388.3K – $517.8K
NOI $31,065 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$1.12M
$978.5K – $1.30M
NOI $78,283 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Kennewick
- County
- Benton
- State
- Washington
- Longitude
- -119.188715
- Latitude
- 46.222618
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained four-plex in Kennewick with strong income potential.
Where is this quadplex located?
The property is located at 1115 N Cleveland Street Kennewick, WA.
What is the asking price?
The asking price for this property is $695,555.
What are key features of this property?
This property features: Turnkey Investment: Fully rented four‑plex provides immediate income with established tenants.; Spacious Units: Each unit offers 1,008 sq ft with 2 bedrooms and 1 bathroom.; Complete Appliance Package: Each unit includes a kitchen equipped with a dishwasher, refrigerator, and range.
