Furnished Triplex on
For Sale
$875,000
18547 Camp 12 Road, Leavenworth, WA 98826
Existing long-term tenants occupy three residential units with included appliances and laundry equipment.
Property Size2,576 SF
Lot Size5.00 Acres
Price / SF$339.67
Days on Market60
Property Features for 18547 Camp 12 Road
General Information
Standard status
Active
Size
2,576 SF
Lot size
5.00 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,311
Amenities
fully furnished
Building Details
Building Size
2,576 SF
Year Built
1995
Tenancy
Multi
Listing Agency:
Engel & Voelkers Mercer Island
(206) 232-2405
Listed By:
Kara Meloy
Source:
Justinhorvath
Added: Jun 9
Changed: Aug 3
Last Checked: Aug 7 at 1:54AM
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 Engel & Voelkers Mercer Island
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 = 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
$30,278
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
3.46%
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%
$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
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
$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 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%
$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
NOI $30,278 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$365.2K
$319.5K – $426.0K
NOI $25,562 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$675.6K
$591.2K – $788.3K
NOI $47,295 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
