Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Wapato Triplex: Fully Rented Investment Title is generated by Realmo AI

    115 East D Street, Wapato, WA 98951

    View on Map
    Claim this Listing
    For Sale
    $395,000

    Fully rented triplex in Wapato, offering immediate cash flow.

    Type:Multi Family / Triplex
    Property size:
    2,496 SF
    Price / SF:
    $158/SF
    Added:
    Jan 26, 2026
    Days on Market:
    126
    Last Refresh:
    Mar 13 at 5:19 pm

    Property Features for 115 East D Street

    General Information

    Standard status
    Active
    Size
    2,496 SF
    Property subtype
    Multi Family / Triplex

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Geoff Bowlsby
    Geoff Bowlsby

    Listing agent Geoff Bowlsby License #30766

    Listing office Century 21 Tri-Cities

    Listing date Jan 26, 2026

    Source Compass

    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 Century 21 Tri-Cities

    HighLights

    • Fully rented triplex providing immediate cash flow.
    • Mix of unit sizes (3‑bedroom and 1‑bedroom) attracts a broad tenant base.
    • Ample off‑street parking for tenants.
    • Unit 1 features a spacious 1,536 sq. ft. floor plan with a brick fireplace.
    • Conveniently located in Wapato.
    • Each unit includes wall A/C and electric baseboard heating.

    Overview

    This fully rented triplex in Wapato presents an investment opportunity with immediate cash flow. Unit 1 features a 1,536 sq. ft. floor plan, including 3 bedrooms and 1 bathroom. The living room is equipped with a brick fireplace. Additional features include electric baseboard heating, wall A/C, a kitchen with a range and refrigerator, a dining area, and washer/dryer hookups. Units 2 and 3 each offer 1 bedroom and 1 bathroom within approximately 480 sq. ft. of living space. These units include electric baseboard heat and wall air conditioning. The property provides off-street parking for tenants and is located in Wapato. The property has a mix of unit sizes.

    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 $42.8k $17.16
    − Vacancy −$2.8k −$1.12
    EGI $40.0k $16.04
    − OpEx −$12.0k −$4.81
    NOI $28.0k $11.23
    2,496 SF · lease $17.16/SF/yr · vacancy 6.53% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $400.3K
    $350.3K – $467.1K (±1% cap)
    NOI $28,024 @ 7.0% cap · market cap 7.09%
    Second Best
    Apartment 5plus
    $348.5K
    $304.9K – $406.6K (±1% cap)
    NOI $24,394 @ 7.0% cap · market cap 6.18%
    Theoretical Best
    Office A
    $506.9K
    $443.5K – $591.4K (±1% cap)
    NOI $35,482 @ 7.0% cap · market cap 8.98%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wapato
    County
    Yakima
    State
    Washington
    Longitude
    -120.4182323
    Latitude
    46.4547489

    Nearby Similar for Sale

    • $5,500,000
      6,540 SF

      Established Propane Distribution Business

      Turnkey propane distribution business with two strategic locations.
      3800 Branch Rd, Wapato, WA 98951
      View Details
    • $2,500,000
      23,145 SF

      Turn-Key H2A Housing Facility

      Purpose-built H2A housing facility for 200 beds on 0.79 acres.
      102 N Wapato Ave, Wapato, WA 98951
      View Details
    • $385,000
      1,110 SF

      Wapato Commercial Property For Sale

      Versatile commercial property with highway access and high visibility.
      111 N Frontage Rd, Wapato, WA 98951
      View Details
    • $245,000

      Wapato Irrigated Agricultural Land

      19.55 acres of versatile irrigated land in Wapato, Washington.
      1410 Stephenson Rd, Wapato, WA 98944
      View Details
    • $5,500,000
      6,540 SF

      Established Propane Distribution Business Package

      Operating propane distribution business with two locations for sale.
      3800 Branch Rd, Wapato, WA 98951
      View Details
    • $286,000

      Former Church Multifamily Conversion Opportunity

      4000 SF former church, suitable for multifamily or business.
      312 West 2nd Street, Wapato, WA 98951,
      View Details
    • $3,975,000
      8,824 SF

      Wapato Commercial Property for Sale

      8,824 SF commercial property in Wapato, WA available for purchase.
      1062 Nightingale Rd, Wapato, WA 98951
      View Details

    FAQs

    What type of property is this?
    Triplex - Fully rented triplex in Wapato, offering immediate cash flow.
    Where is this triplex located?
    The property is located at 115 East D Street Wapato, WA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Fully rented triplex providing immediate cash flow.; Mix of unit sizes (3‑bedroom and 1‑bedroom) attracts a broad tenant base.; Ample off‑street parking for tenants.
    (509) 840-2814
    We can help!
    Listing Contact
    Geoff Bowlsby
    Geoff Bowlsby
    Real Estate License ID: 30766
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    115 East D Street, Wapato, WA 98951
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!