10-Unit Apartment
New
For Sale
$650,000
301 E Edison Avenue, Sunnyside, WA 98944
Residential Income, Sunnyside, WA
Property Size4,950 SF
Lot Size0.51 Acres
Price / SF$131.31
Days on Market2
Property Features for 301 E Edison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
SINGLE FAMILY R
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 1, Bathroom 6, Bathroom 5, Bathroom 3, Bedroom 8, Bedroom 11, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 9, Bedroom 2, Bedroom 1, Bedroom 10, Bedroom 4, Bedroom 3, Bathroom 4
Lot features
Loc in City Limits
Directions
E Edison
Standard status
Active
APN
22102532468 and 221025324
Size
4,950 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4769
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Window Unit(s), Electric
Water source
Public
Building Details
Year built
1952
Number of units
10
Building materials
Block
Roof type
Metal
Listing Agency:
John L Scott Sunnyside
(509) 515-0190
Listed By:
Gina Gamboa · License #13951
(509) 840-3479
Added: Sep 16
Last Checked: Sep 17 at 9:06PM
MLS# 296485
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 10-unit apartment property contains one two-bedroom residence and nine one-bedroom residences within 4,950 square feet on a 0.51-acre parcel. The building was constructed in 1952 with block construction, a metal roof, public water, electric heating, forced-air heating, and window-unit cooling. Each residence has a dedicated drain and separate utility shutoff valves, while every unit includes one parking space in addition to available street parking.
Plumbing improvements completed in 2016 included replacement of the main sewer drain and installation of PEX freshwater lines extending from the city main to the units. The property is zoned SINGLE FAMILY R and is located at 301 E Edison Avenue in Sunnyside, near parks, stores, and entertainment.
Plumbing improvements completed in 2016 included replacement of the main sewer drain and installation of PEX freshwater lines extending from the city main to the units. The property is zoned SINGLE FAMILY R and is located at 301 E Edison Avenue in Sunnyside, near parks, stores, and entertainment.
Key Highlights
- 10 total units: 1 two‑bedroom and 9 one‑bedroom residences
- 4,950 square feet on a 0.51‑acre parcel
- 2016 plumbing upgrades included main sewer drain replacement and PEX freshwater lines
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
738
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 - Apartment property with a one- and two-bedroom mix, individual utility shutoffs, and one parking space per unit.
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 total units: 1 two‑bedroom and 9 one‑bedroom residences; 4,950 square feet on a 0.51‑acre parcel; 2016 plumbing upgrades included main sewer drain replacement and PEX freshwater lines
