Residential Income Portfolio with
For Sale
$1,750,000
1408-1428 S 8th St, Yakima, WA 98901
Comm/Industrial, Yakima, WA
Property Size7,530 SF
Lot Size2.47 Acres
Price / SF$232.40
Days on Market323
Property Features for 1408-1428 S 8th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
AG - Agricultural, R2 - 2 Fam Res
Lot features
Paved Road
Directions
From downtown Yakima, head south on S 1st Street. Turn left onto E Lincoln Avenue, then right onto S 8th Street. Continue south to the 1400 block; the property is located between S 14th Avenue and S 15th Avenue at 1408-1428 S 8th Street.
Subdivision
1B - SE Yakima
Standard status
Active
APN
191330-41413,41415, 41409, 41412, 41414, 41405+
Size
7,530 SF
Lot size
2.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14390
Utilities
Heating system
Baseboard
Water source
Public
Building Details
Year built
1920
Flooring type
Vinyl
Building materials
Frame
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Russ Roberts,
(509) 594-7989
Added: Dec 4, 2025
Changed: Oct 14
Last Checked: Oct 23 at 1:06AM
MLS# 25-3483
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.
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Investment Insights
Based on property information with market context.
This residential income portfolio consists of 15 houses across 9 separately parceled lots, positioned as a full city block footprint covering both sides of the street. The unit mix includes two 3-bedroom, 1-bath homes and thirteen 2-bedroom, 1-bath homes, providing existing rental income while offering flexibility for future planning.
All 9 parcels are zoned R2, supporting redevelopment potential. Based on the provided zoning and parcel structure, the property could be reconfigured or rebuilt to develop up to 36 units (9 parcels x 4 units), subject to applicable planning and permitting requirements.
The total land area is 2.47 acres, with a listed property size of 7,530 square feet. This offering is located at 1408–1428 S 8th St, Yakima, WA 98901.
All 9 parcels are zoned R2, supporting redevelopment potential. Based on the provided zoning and parcel structure, the property could be reconfigured or rebuilt to develop up to 36 units (9 parcels x 4 units), subject to applicable planning and permitting requirements.
The total land area is 2.47 acres, with a listed property size of 7,530 square feet. This offering is located at 1408–1428 S 8th St, Yakima, WA 98901.
Key Highlights
- Full city block portfolio with 15 houses across 9 separately parceled lots (both sides of the street).
- Unit mix: 2 three‑bedroom, 1‑bath houses and 13 two‑bedroom, 1‑bath houses.
- All 9 parcels are zoned R‑2, allowing redevelopment and potential density increase.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,591
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,471,820
$1.5M
Cap Rate 7%
$1,051,300
$1.1M
Cap Rate 9%
$817,678
$817.7K
Market Conditions
NOI Build-Up for 7,530 SF
Gross rent
$143.7K $19.08/SF
− Vacancy
−$9.9K −$1.31/SF
EGI
$133.8K $17.77/SF
− OpEx
−$60.2K −$8.00/SF
NOI
$73.6K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,471,820
Cap Rate 7%
$1,051,300
Cap Rate 9%
$817,678
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$919.9K – $1.23M
NOI $73,591 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,042 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 98901, WA
32,351
Population
12,201
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
72%
High-School Grad
184.5 sq mi
ZIP Area
175
Density / Sq Mi
$56,429
Median Household Income
$33,058
Median Earnings
$996
Median Rent
$268,100
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?
Single family property - Portfolio includes 15 houses on 9 separately parceled lots, all zoned R2 for potential redevelopment.
Where is this single family property located?
The property is located at 1408-1428 S 8th St Yakima, WA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Full city block portfolio with 15 houses across 9 separately parceled lots (both sides of the street).; Unit mix: 2 three‑bedroom, 1‑bath houses and 13 two‑bedroom, 1‑bath houses.; All 9 parcels are zoned R‑2, allowing redevelopment and potential density increase.
