Single-Level 4-Plex Investment
1613 Garrett Street Yakima, WA 98902
1613 Garrett Street, Yakima, WA, 98902
$450,000
For Sale
$450,000
Single-level 4-plex with strong rental history and income potential.
Property Size2,992 SF
Price / SF$150.40
Days on Market52
Property Features for 1613 Garrett Street
General Information
- Standard status
- Active
- Size
- 2,992 SF
- Property subtype
- Multi Family / Fourplex
Building Details
- Year Built
- 1998
Listing Agency
John L Scott Yakima
(509) 952-7788
Listed by
Chris Thorn · License #139157
(509) 952-7788
Source
Compass
Added: May 26 Checked: Jul 16 at 6:25 am
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 single-level 4-plex presents an investment opportunity, featuring four units designed for convenience and rental appeal. Each unit includes two bedrooms, one bathroom, and a parking space. The property has a solid rental history and is currently 100% occupied. The property size is 2992 square feet. The current gross monthly rental income is $3,100 when fully rented. Tenants are responsible for paying electricity.
Key Highlights
- Strong Income Potential: Currently generating $3,100/month in gross rental income when fully occupied.
- 100% Occupancy: Property is fully rented, ensuring immediate cash flow.
- Single‑Level Design: All four units are on one level, offering accessibility and convenience.
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 | $51.3k | $17.16 |
| − Vacancy | −$3.4k | −$1.12 |
| EGI | $48.0k | $16.04 |
| − OpEx | −$14.4k | −$4.81 |
| NOI | $33.6k | $11.23 |
2,992 SF · lease $17.16/SF/yr · vacancy 6.53% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$479.9K
$419.9K – $559.9K
NOI $33,593 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$417.7K
$365.5K – $487.4K
NOI $29,241 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$607.6K
$531.7K – $708.9K
NOI $42,532 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Single-level 4-plex with strong rental history and income potential.
Where is this quadplex located?
The property is located at 1613 Garrett Street Yakima, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Strong Income Potential: Currently generating $3,100/month in gross rental income when fully occupied.; 100% Occupancy: Property is fully rented, ensuring immediate cash flow.; Single‑Level Design: All four units are on one level, offering accessibility and convenience.
