Updated Quadplex with Spacious
For Sale
$459,000
Pending
1408 Roosevelt Avenue, Yakima, WA 98902
R3-zoned multifamily property with renovated interiors, newer roofs, and off-street parking serving each residence.
Property Size3,200 SF
Days on Market184
Property Features for 1408 Roosevelt Avenue
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Multi Family / Fourplex
Zoning
R3 - Multi Fam Res
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$2,881
Amenities
Electric
Composition
Brick, Wood
Building Details
Year Built
1976
Listing Agency:
John L Scott Yakima
(509) 895-9995
Listed By:
Hamza Sarameh · License #24034615
(509) 895-9995
Source:
Compass
Added: Feb 27
Changed: Aug 29
Last Checked: Aug 29 at 9:22PM
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 John L Scott Yakima
Investment Insights
Based on property information with market context.
This 3,200-square-foot quadplex contains four spacious residences, each configured with two bedrooms and one bathroom. Most units have undergone complete renovations, including tile or LVP flooring and white base trim. The property has newer roofs, brick and wood exterior materials, and electric interior features.
Parking is available on both the street side and alley side, with two spaces allocated per unit. Located at 1408 Roosevelt Avenue in Yakima, the property is zoned R3 - Multi Fam Res. The rental history is described as almost always 100% occupied, providing an established operating profile for a multifamily buyer.
Parking is available on both the street side and alley side, with two spaces allocated per unit. Located at 1408 Roosevelt Avenue in Yakima, the property is zoned R3 - Multi Fam Res. The rental history is described as almost always 100% occupied, providing an established operating profile for a multifamily buyer.
Key Highlights
- Four‑unit quadplex with 3,200 SF of building area
- Each residence offers 2 bed/1 bath layouts
- Two parking spaces per unit on the street and alley sides
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,928
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$718,560
$718.6K
Cap Rate 7%
$513,257
$513.3K
Cap Rate 9%
$399,200
$399.2K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$54.9K $17.16/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$51.3K $16.04/SF
− OpEx
−$15.4K −$4.81/SF
NOI
$35.9K $11.23/SF
Area
Yakima County, WA
Vacancy
6.53%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$718,560
Cap Rate 7%
$513,257
Cap Rate 9%
$399,200
Alternative Uses
Best Use
Multifamily LT 5
$513.3K
$449.1K – $598.8K
NOI $35,928 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$446.8K
$390.9K – $521.2K
NOI $31,274 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$649.8K
$568.6K – $758.2K
NOI $45,489 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - R3-zoned multifamily property with renovated interiors, newer roofs, and off-street parking serving each residence.
Where is this quadplex located?
The property is located at 1408 Roosevelt Avenue Yakima, WA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,200 SF of building area; Each residence offers 2 bed/1 bath layouts; Two parking spaces per unit on the street and alley sides
