Updated Three-Unit Income
For Sale
$725,000
128 S Western Ave Unit 1, Wenatchee, WA 98801
Fully leased triplex with updated interiors, in-unit laundry, included appliances, and covered parking for every residence.
Property Size2,976 SF
Price / SF$243.62
Days on Market75
Property Features for 128 S Western Ave Unit 1
General Information
Standard status
Active
Size
2,976 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Cap Rate
6%
Gross Income
$59,700
Additional Details
Multifamily Units
3
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Premier One Properties
Listed By:
Scott Thompson · License #138965
(509) 662-3491
Source:
Heartandhomesnw
Added: Aug 8
Changed: Oct 1
Last Checked: Oct 20 at 10:19PM
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 Premier One Properties
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Investment Insights
Based on property information with market context.
Located at 128 S Western Avenue #1 in Wenatchee, this three-unit residential income property was built in 1976 and is fully rented. The unit mix includes one 1,400-square-foot residence with two bathrooms and two 775-square-foot residences, each with one full bathroom. Interior improvements include updated finishes, in-unit laundry, and appliances that remain with the property.
Parking is assigned across the units, with two covered spaces serving the larger residence and one covered plus one uncovered space allocated to each of the other two units. The property contains 2,976 square feet and is presented as a maintained, income-producing triplex with a 6% cap rate.
Parking is assigned across the units, with two covered spaces serving the larger residence and one covered plus one uncovered space allocated to each of the other two units. The property contains 2,976 square feet and is presented as a maintained, income-producing triplex with a 6% cap rate.
Key Highlights
- Three‑unit property with 2,976 square feet, built in 1976
- Unit mix includes one 1,400‑square‑foot residence and two 775‑square‑foot residences
- Larger unit has 2 bathrooms; two additional units each have 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,979
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,580
$699.6K
Cap Rate 7%
$499,700
$499.7K
Cap Rate 9%
$388,656
$388.7K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$51.8K $17.40/SF
− Vacancy
−$1.8K −$0.61/SF
EGI
$50.0K $16.79/SF
− OpEx
−$15.0K −$5.04/SF
NOI
$35.0K $11.75/SF
Area
Chelan County, WA
Vacancy
3.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,580
Cap Rate 7%
$499,700
Cap Rate 9%
$388,656
Alternative Uses
Best Use
Multifamily LT 5
$499.7K
$437.2K – $583.0K
NOI $34,979 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$421.9K
$369.1K – $492.2K
NOI $29,531 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$780.6K
$683.0K – $910.7K
NOI $54,639 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
Explore this area
Business Placement
Demographics for 98801, WA
44,970
Population
18,034
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
85%
High-School Grad
153.6 sq mi
ZIP Area
293
Density / Sq Mi
$74,768
Median Household Income
$41,216
Median Earnings
$1,200
Median Rent
$429,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased triplex with updated interiors, in-unit laundry, included appliances, and covered parking for every residence.
Where is this triplex located?
The property is located at 128 S Western Ave Unit 1 Wenatchee, WA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit property with 2,976 square feet, built in 1976; Unit mix includes one 1,400‑square‑foot residence and two 775‑square‑foot residences; Larger unit has 2 bathrooms; two additional units each have 1 full bathroom
