24-Unit Mixed-Use
New
For Sale
$6,250,000
307 W Kennewick Ave, Kennewick, WA 99336
Residential Income, Kennewick, WA
Property Size27,691 SF
Lot Size0.72 Acres
Price / SF$225.71
Days on Market2
Property Features for 307 W Kennewick Ave
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
Central Bus Dist. Support
Bedrooms
24
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 23, Bathroom 3, Bathroom 5, Bedroom 17, Bedroom 12, Bathroom 1, Bedroom 9, Bedroom 16, Bedroom 13, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 18, Bedroom 20, Bedroom 8, Bedroom 14, Bedroom 2, Bedroom 10, Bedroom 15, Bedroom 22, Bedroom 21, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 24, Bedroom 11, Bathroom 6, Bedroom 6, Bedroom 19
Parking features
Off Street
Appliances
Dishwasher, Dryer, Range Hood, Refrigerator
Subdivision
AMONS ADDITION
Elementary school district
KENNEWICK
Middle school district
KENNEWICK
High school district
KENNEWICK
Directions
Downtown Kennewick, at W Kennewick Ave and S Cascade St. Main property address: 307 W Kennewick Ave.
Standard status
Active
APN
101891030009002
Size
27,691 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16000
Utilities
Utilities
Natural Gas Available
Heating system
Zoned, Heat Pump (Heating)
Cooling system
Heat Pump, Zoned, Central Air
Water source
Public
Building Details
Year built
1940
Number of units
24
Building materials
Stucco
Listing Agency:
MLS4owners.com
Listed By:
Chris Nye · License #13886
(253) 460-1900
Added: Oct 13
Last Checked: Oct 14 at 5:06PM
MLS# 297161
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 two-story mixed-use property in downtown Kennewick contains 24 apartments—19 one-bedroom units and five studios—alongside three commercial tenancy spaces. The building measures 27,691 square feet on approximately 0.72 acres. Built in 1940, it has stucco construction, zoned heat-pump heating and cooling, and central air. The seller reports a roof replacement in 2019 and updates to eight apartments during the past five years.
The property has approximately 35 private parking spaces and is zoned Central Bus Dist. Support. Public water and natural gas availability are listed. The apartment mix and commercial spaces are the principal components of the property.
The property has approximately 35 private parking spaces and is zoned Central Bus Dist. Support. Public water and natural gas availability are listed. The apartment mix and commercial spaces are the principal components of the property.
Key Highlights
- 24 apartments: 19 one‑bedroom units and five studios
- Three commercial tenancy spaces
- 27,691 square feet on approximately 0.72 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,549
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,470,980
$4.5M
Cap Rate 7%
$3,193,557
$3.2M
Cap Rate 9%
$2,483,878
$2.5M
Market Conditions
NOI Build-Up for 27,691 SF
Gross rent
$388.8K $14.04/SF
− Vacancy
−$31.1K −$1.12/SF
EGI
$357.7K $12.92/SF
− OpEx
−$134.1K −$4.84/SF
NOI
$223.5K $8.07/SF
Area
Benton County, WA
Vacancy
8.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,470,980
Cap Rate 7%
$3,193,557
Cap Rate 9%
$2,483,878
Alternative Uses
Best Use
Mixed Use
$3.19M
$2.79M – $3.73M
NOI $223,549 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$3.05M
$2.67M – $3.56M
NOI $213,347 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$7.68M
$6.72M – $8.96M
NOI $537,633 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
24
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
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?
Mixed-use property - Two stories combine residential apartments with three commercial tenancy spaces in downtown Kennewick.
Where is this mixed-use property located?
The property is located at 307 W Kennewick Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 24 apartments: 19 one‑bedroom units and five studios; Three commercial tenancy spaces; 27,691 square feet on approximately 0.72 acres
