Building Details

Building Size 2,576 SF

Year Built 1995

Tenancy Multi

Listing Agency: Engel & Voelkers Mercer Island

Listed By: Kara Meloy · License #20120373 Show Phone

Source: Justinhorvath

Added: Jun 9 Changed: Oct 3 Last Checked: Oct 10 at 1:59AM

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Investment Insights

Based on property information with market context.

This 2,576-square-foot triplex includes three residential units and is offered with furnishings, appliances, and a washer/dryer set for each unit. Long-term tenants are already in place, providing an established rental operation for the property. Built in 1995, the asset sits on 5 irrigated acres at 18547 Camp 12 Road in Leavenworth, Washington. Water resources include a shared well and irrigation water. The acreage is described as usable and may accommodate gardens or hobby-farming activities. The combination of three furnished units and substantial land creates a property that can continue operating as a residential rental while retaining the acreage component as part of the ownership.

Key Highlights

• Three‑unit residential property on 5 irrigated acres
• 2,576 square feet with 3 residential units
• Furnished units include appliances and washer/dryer sets

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,278

Cap Rate

3.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$605,560 $605.6K

Cap Rate 7%

$432,543 $432.5K

Cap Rate 9%

$336,422 $336.4K

Market Conditions

NOI Build-Up for 2,576 SF

Gross rent

$44.8K $17.40/SF

− Vacancy

−$1.6K −$0.61/SF

EGI

$43.3K $16.79/SF

− OpEx

−$13.0K −$5.04/SF

NOI

$30.3K $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%

$605,560

Cap Rate 7%

$432,543

Cap Rate 9%

$336,422

Alternative Uses

Best Use

Multifamily LT 5

$432.5K

$378.5K – $504.6K (±1% cap)

NOI $30,278 @ 7.0% cap · market cap 3.46%

Second Best

Apartment 5plus

$365.2K

$319.5K – $426.0K (±1% cap)

NOI $25,562 @ 7.0% cap · market cap 2.92%

Theoretical Best

Office A

$675.6K

$591.2K – $788.3K (±1% cap)

NOI $47,295 @ 7.0% cap · market cap 5.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Building Supply Electrical Service Auto Repair Shop Storage Facility (Bike/Boat/Book/etc) Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Explore this area Business Placement

Demographics for 98826, WA

7,280

Population

5,868

Households

1.2

Avg Household Size

49

Median Age

44%

College-Educated

95%

High-School Grad

1,015.6 sq mi

ZIP Area

7

Density / Sq Mi

$85,594

Median Household Income

$46,935

Median Earnings

$1,122

Median Rent

$639,700

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Existing long-term tenants occupy three residential units with included appliances and laundry equipment.

Where is this triplex located?

The property is located at 18547 Camp 12 Road Leavenworth, WA.

What is the asking price?

The asking price for this property is $875,000.

What are key features of this property?

This property features: Three‑unit residential property on 5 irrigated acres; 2,576 square feet with 3 residential units; Furnished units include appliances and washer/dryer sets