Multifamily Property with Detached
New
For Sale
$459,000
26 Sw 13th, College Place, WA 99324
A separate lower-level residence and detached studio provide multiple living spaces, with alley access and off-street parking.
Property Size2,642 SF
Price / SF$173.73
Days on Market5
Property Features for 26 Sw 13th
General Information
Standard status
Active
Size
2,642 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Building Details
Year Built
1944
Listing Agency:
Williams Team Homes LLC
Listed By:
Kelly J. Snyder-White
(509) 525-8326
Source:
Heartandhomesnw
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 9:55AM
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 Williams Team Homes LLC
Investment Insights
Based on property information with market context.
This 2,642-square-foot multifamily property, built in 1944, has a main-level residence with two bedrooms, one bathroom, an updated kitchen with granite countertops, and a formal dining room. The self-contained lower level has a private entrance, two bedrooms, one bathroom, a full kitchen, and a living room. A detached studio ADU adds a third distinct space. The garage includes a reverse fan for automotive painting and can also serve for parking or storage.
The property is a few blocks from Walla Walla University and has alley access with off-street parking. Improvements include a 2018 roof, a replacement sewer line running from the ADU to the street, newer central air conditioning, and enhanced insulation.
The property is a few blocks from Walla Walla University and has alley access with off-street parking. Improvements include a 2018 roof, a replacement sewer line running from the ADU to the street, newer central air conditioning, and enhanced insulation.
Key Highlights
- 2,642 square feet; built in 1944
- Main level: 2 bedrooms, 1 bathroom, updated kitchen with granite countertops, and formal dining room
- Lower level has a private entrance, 2 bedrooms, 1 bathroom, full kitchen, and living room
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
$18,832
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
4.10%
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%
$376,640
$376.6K
Cap Rate 7%
$269,029
$269.0K
Cap Rate 9%
$209,244
$209.2K
Market Conditions
NOI Build-Up for 2,642 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
$35.7K $13.50/SF
− Vacancy
−$1.4K −$0.54/SF
EGI
$34.2K $12.96/SF
− OpEx
−$15.4K −$5.83/SF
NOI
$18.8K $7.13/SF
Area
Walla Walla County, WA
Vacancy
4.00%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
45.00%
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%
$376,640
Cap Rate 7%
$269,029
Cap Rate 9%
$209,244
Alternative Uses
Best Use
Apartment 5plus
$269.0K
$235.4K – $313.9K
NOI $18,832 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$621.8K
$544.0K – $725.4K
NOI $43,523 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
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Business Placement
Demographics for 99324, WA
10,226
Population
3,601
Households
2.8
Avg Household Size
36
Median Age
37%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
3,652
Density / Sq Mi
$64,485
Median Household Income
$29,650
Median Earnings
$1,121
Median Rent
$338,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A separate lower-level residence and detached studio provide multiple living spaces, with alley access and off-street parking.
Where is this multifamily property located?
The property is located at 26 Sw 13th College Place, WA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 2,642 square feet; built in 1944; Main level: 2 bedrooms, 1 bathroom, updated kitchen with granite countertops, and formal dining room; Lower level has a private entrance, 2 bedrooms, 1 bathroom, full kitchen, and living room
