Well-Maintained Fourplex Income
1461 Rainier Fircrest, WA 98466
1461 Rainier, Fircrest, WA, 98466
$1,400,000
For Sale
$1,400,000
Turnkey fourplex offering four 2-bedroom, 1.5-bath units with covered carport parking and in-unit washer/dryer.
Property Size4,112 SF
Price / SF$340.47
Days on Market120
Property Features for 1461 Rainier
General Information
- Standard status
- Active
- Size
- 4,112 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1967
Listing agency
Berkshire Hathaway HS NW
Listed by
Suzanne Smith
(253) 564-6211
Source
Century21northhomes
Added: Mar 26 Updated: Jul 22 at 2:11AM Checked: Jul 22 at 2:11AM
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 Berkshire Hathaway HS NW
Investment Insights
Based on property information with market context.
This well-maintained fourplex offers four spacious units, each configured with two bedrooms and 1.5 bathrooms. Unit interiors feature a desirable layout that includes an eat-in kitchen with granite countertops, a formal dining room, a walk-in closet, and a cozy fireplace. Each unit also includes an in-unit washer/dryer, along with dedicated storage and covered carport parking.
The property is offered for sale as a turnkey investment with existing unit amenities designed to support straightforward tenant living. Covered carport parking and dedicated storage are provided for on-site convenience.
The four units combine consistent layouts and practical in-unit features, including laundry, while the property’s covered parking and storage help round out the overall tenant-ready configuration.
The property is offered for sale as a turnkey investment with existing unit amenities designed to support straightforward tenant living. Covered carport parking and dedicated storage are provided for on-site convenience.
The four units combine consistent layouts and practical in-unit features, including laundry, while the property’s covered parking and storage help round out the overall tenant-ready configuration.
Key Highlights
- Fourplex built in 1967 with four units, each offering 2 bedrooms and 1.5 baths
- Each unit includes a cozy fireplace, formal dining room, and eat‑in kitchen with granite countertops
- In‑unit washer/dryer included for all units
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 | $82.9k | $20.16 |
| − Vacancy | −$5.8k | −$1.42 |
| EGI | $77.1k | $18.74 |
| − OpEx | −$23.1k | −$5.62 |
| NOI | $53.9k | $13.12 |
4,112 SF · lease $20.16/SF/yr · vacancy 7.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$770.7K
$674.4K – $899.2K
NOI $53,949 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$710.8K
$622.0K – $829.3K
NOI $49,759 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.11M
$971.8K – $1.30M
NOI $77,742 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Turnkey fourplex offering four 2-bedroom, 1.5-bath units with covered carport parking and in-unit washer/dryer.
Where is this quadplex located?
The property is located at 1461 Rainier Fircrest, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fourplex built in 1967 with four units, each offering 2 bedrooms and 1.5 baths; Each unit includes a cozy fireplace, formal dining room, and eat‑in kitchen with granite countertops; In‑unit washer/dryer included for all units
