48-Unit Apartment
New
For Sale
$4,800,000
1855 Wine Country Road, Prosser, WA 99350
The unit mix includes on-site laundry, off-street parking, and a separate office building for owner use.
Property Size31,784 SF
Price / SF$151.02
Days on Market3
Property Features for 1855 Wine Country Road
General Information
Standard status
Active
Size
31,784 SF
Property subtype
Multi-Family
Zoning
Residential High Density
Units
Unit Mix
32 x 1BR/1BA, 16 x 2BR/1BA
Multifamily Units
48
Amenities
washer and dryer hookups
coin-operated laundry facilities
off-street parking
separate office building
Building Details
Year Built
1976
Listing Agency:
Kw Palouse
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 8:38PM
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 Kw Palouse
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Investment Insights
Based on property information with market context.
This 48-unit apartment property in Prosser contains 31,784 square feet across a mix of 32 one-bedroom, one-bathroom units and 16 two-bedroom, one-bathroom units. Built in 1976, the apartments have range/ovens, refrigerators, wall or window air conditioning, and baseboard heating. The one-bedroom units are in a building with solar power; electricity is included for those units, while residents of the two-bedroom apartments pay their own electric service.
Two-bedroom units have washer and dryer hookups, and coin-operated laundry is available on site. The property also includes off-street parking and a separate office building for owner use. It is zoned Residential High Density and is located at 1855 Wine Country Road in Prosser, Washington.
Two-bedroom units have washer and dryer hookups, and coin-operated laundry is available on site. The property also includes off-street parking and a separate office building for owner use. It is zoned Residential High Density and is located at 1855 Wine Country Road in Prosser, Washington.
Key Highlights
- 48 apartments totaling 31,784 square feet
- Unit mix: 32 one‑bedroom, one‑bathroom units and 16 two‑bedroom, one‑bathroom units
- Solar power serves the building containing 32 one‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,882
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,897,640
$4.9M
Cap Rate 7%
$3,498,314
$3.5M
Cap Rate 9%
$2,720,911
$2.7M
Market Conditions
NOI Build-Up for 31,784 SF
Gross rent
$488.2K $15.36/SF
− Vacancy
−$43.0K −$1.35/SF
EGI
$445.2K $14.01/SF
− OpEx
−$200.4K −$6.30/SF
NOI
$244.9K $7.70/SF
Area
Benton County, WA
Vacancy
8.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,897,640
Cap Rate 7%
$3,498,314
Cap Rate 9%
$2,720,911
Alternative Uses
Best Use
Apartment 5plus
$3.50M
$3.06M – $4.08M
NOI $244,882 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.82M
$7.71M – $10.29M
NOI $617,100 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 99350, WA
13,240
Population
4,954
Households
2.7
Avg Household Size
36
Median Age
20%
College-Educated
79%
High-School Grad
600.1 sq mi
ZIP Area
22
Density / Sq Mi
$74,393
Median Household Income
$35,976
Median Earnings
$899
Median Rent
$289,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes on-site laundry, off-street parking, and a separate office building for owner use.
Where is this apartment building located?
The property is located at 1855 Wine Country Road Prosser, WA.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 48 apartments totaling 31,784 square feet; Unit mix: 32 one‑bedroom, one‑bathroom units and 16 two‑bedroom, one‑bathroom units; Solar power serves the building containing 32 one‑bedroom apartments
