Fourplex Residential Income
1115 N Cleveland Street, Kennewick, WA 99336
- Added:
- Jan 29, 2026
- Days on Market:
- 161
- Last Refresh:
- Jul 9 at 2:06 am
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
- Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 5, Bedroom 7, Bedroom 1, Bathroom 1, Bedroom 4
- Parking features
- Off Street
- Interior features
- Breakfast Bar, Carpets, Storage, Utility, Tile Bath, Vinyl
- Exterior features
- Lighting, Sprinkler System
- Appliances
- Dishwasher, Refrigerator, Range
- Standard status
- Active
- APN
- ***
- Size
- 4,032 SF
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 4603
Utilities
- Utilities
- Cable Available
- Heating system
- Electric (Heating), Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1978
- Number of units
- 4
- Flooring type
- Carpet, Vinyl, Tile
- Building materials
- Frame
- Roof type
- Composition
- Additional Structures
- Storage
Listing agent Joyce Wilder Halsey (509) 546-1902
Listing office PNW Collective / Real Broker 507 Knight St, Richland, WA (509) 204-7360
Listing date Jan 29, 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
- Four‑plex investment property (MLS# 290154) at 1115 N Cleveland St in Kennewick
- Each unit features 1,008 sq ft with 2 bedrooms and 1 bathroom
- Unit interiors include kitchen with pantry and breakfast bar, plus dishwasher, range, and refrigerator
- Each unit has dedicated dining area and a large living room with slider access to a private patio/terrace
- Central air and forced‑air/electric heating; composition shingle roof; frame construction (Year built: 1978)
- Off‑street parking, sprinkler system, and public water; cable available
Overview
1115 N Cleveland Street presents a well-maintained four-plex configured as four separate residential units. Each unit offers 2 bedrooms and 1 bathroom with a spacious, practical layout that includes a kitchen with pantry, breakfast bar, dishwasher, range, and refrigerator. Units also feature a dedicated dining area and a large living room with slider access to private outdoor space, including either a private lower-level patio or an upper-level terrace. Additional in-unit features include generous bedroom closets and utility closets for a washer and dryer. The property also provides yard space and ample off-street parking for residents.
The property is located in Kennewick, Washington, with convenient access to local amenities. Highway access is described as being available off Edison, supporting straightforward commuting and deliveries.
This is a fully rented property with established tenants, offering an opportunity for buyers seeking a multi-unit, already-occupied residential asset. Each unit’s consistent 2-bedroom, 1-bath configuration and included appliances can help streamline tenant move-ins and ongoing unit maintenance. A related option is also noted: an additional four-plex is available next door at 1121 N Cleveland, which may appeal to buyers considering portfolio expansion.
The property is located in Kennewick, Washington, with convenient access to local amenities. Highway access is described as being available off Edison, supporting straightforward commuting and deliveries.
This is a fully rented property with established tenants, offering an opportunity for buyers seeking a multi-unit, already-occupied residential asset. Each unit’s consistent 2-bedroom, 1-bath configuration and included appliances can help streamline tenant move-ins and ongoing unit maintenance. A related option is also noted: an additional four-plex is available next door at 1121 N Cleveland, which may appeal to buyers considering portfolio expansion.
Local 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 | $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 Uses
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 with two-bedroom units, private outdoor space, and ample off-street parking.
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: Four‑plex investment property (MLS# 290154) at 1115 N Cleveland St in Kennewick; Each unit features 1,008 sq ft with 2 bedrooms and 1 bathroom; Unit interiors include kitchen with pantry and breakfast bar, plus dishwasher, range, and refrigerator
