10-Unit Apartment
New
For Sale
$650,000
301 E Edison Avenue, Sunnyside, WA 98944
Central Sunnyside setting near a park, stores, and entertainment, with individual parking and street parking.
Property Size4,950 SF
Price / SF$131.31
Days on Market7
Property Features for 301 E Edison Avenue
General Information
Standard status
Active
Size
4,950 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 9 x 1BR
Multifamily Units
10
Parking per Unit
1
Building Details
Year Built
1952
Listing Agency:
Retter And Company Sotheby's
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 22 at 4:05PM
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 Retter And Company Sotheby's
Investment Insights
Based on property information with market context.
This apartment property contains 10 units within a 4,950-square-foot building constructed in 1952. The unit mix includes one two-bedroom apartment and nine one-bedroom apartments. Each unit has one dedicated parking space, with additional street parking available. Wall-mounted air conditioning and wall-mounted electric heat serve the units.
Plumbing improvements completed in 2016 included replacement of the main sewer drain, new fresh-water PEX lines from the city main to all units, and separate drain and shutoff valves for each apartment. Additional work included new studs and sheetrock at a shared bathroom wall.
The property is located at 301 E Edison Avenue in Sunnyside, near a park, stores, and entertainment. Several units have long-term tenants, and the apartments are described as income-producing.
Plumbing improvements completed in 2016 included replacement of the main sewer drain, new fresh-water PEX lines from the city main to all units, and separate drain and shutoff valves for each apartment. Additional work included new studs and sheetrock at a shared bathroom wall.
The property is located at 301 E Edison Avenue in Sunnyside, near a park, stores, and entertainment. Several units have long-term tenants, and the apartments are described as income-producing.
Key Highlights
- 10 units with a mix of one two‑bedroom and nine one‑bedroom apartments
- 4,950‑square‑foot apartment building constructed in 1952
- New plumbing serving all units completed in 2016
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
$48,377
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
7.44%
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%
$967,540
$967.5K
Cap Rate 7%
$691,100
$691.1K
Cap Rate 9%
$537,522
$537.5K
Market Conditions
NOI Build-Up for 4,950 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
$94.4K $19.08/SF
− Vacancy
−$6.5K −$1.31/SF
EGI
$88.0K $17.77/SF
− OpEx
−$39.6K −$8.00/SF
NOI
$48.4K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /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%
$967,540
Cap Rate 7%
$691,100
Cap Rate 9%
$537,522
Alternative Uses
Best Use
Apartment 5plus
$691.1K
$604.7K – $806.3K
NOI $48,377 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$879.6K – $1.17M
NOI $70,366 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
Explore this area
Business Placement
Demographics for 98944, WA
22,412
Population
6,806
Households
3.3
Avg Household Size
29
Median Age
9%
College-Educated
59%
High-School Grad
544.6 sq mi
ZIP Area
41
Density / Sq Mi
$60,167
Median Household Income
$30,948
Median Earnings
$959
Median Rent
$230,100
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?
Apartment building - Central Sunnyside setting near a park, stores, and entertainment, with individual parking and street parking.
Where is this apartment building located?
The property is located at 301 E Edison Avenue Sunnyside, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 10 units with a mix of one two‑bedroom and nine one‑bedroom apartments; 4,950‑square‑foot apartment building constructed in 1952; New plumbing serving all units completed in 2016
