Renovated 10-Unit Apartment
For Sale
Contact for pricing
329 S 3rd Ave, Walla Walla, WA 99362
Multifamily asset with a renovated six-unit building and four newer rear units in a carriage house.
Property Size7,346 SF
Price / SF$163.35
Days on Market163
Property Features for 329 S 3rd Ave
General Information
Standard status
Active
Size
7,346 SF
Property subtype
Multifamily
Zoning
RM
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$82,986
Building Details
Year Built
1906
Buildings
2
Units
10
Tenancy
Multi
Listing Agency:
Paragon Group
Listed By:
Mason Fiascone · License #20115181
(509) 221-9354
Source:
Crexi
Added: May 7
Changed: Oct 16
Last Checked: Oct 16 at 5:59AM
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 Paragon Group
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Investment Insights
Based on property information with market context.
This multifamily property comprises 10 units across a fully renovated six-unit building and a newer rear carriage house containing four additional units. The buildings date to 1906 and offer varied floorplans, distinctive architectural character, and updated living spaces. The renovation work addresses the primary six-unit structure, while the newer rear units add a complementary configuration to the property.
Located at 329 S 3rd Ave in Walla Walla, the asset sits in an in-town setting near downtown amenities, neighborhood services, and major employment drivers. The property is zoned RM and has established operations with in-place rental performance. Its combination of renovated interiors, a separate carriage-house component, and differentiated building character provides a distinct multifamily profile.
Located at 329 S 3rd Ave in Walla Walla, the asset sits in an in-town setting near downtown amenities, neighborhood services, and major employment drivers. The property is zoned RM and has established operations with in-place rental performance. Its combination of renovated interiors, a separate carriage-house component, and differentiated building character provides a distinct multifamily profile.
Key Highlights
- 10‑unit multifamily property with 6 units in the main building and 4 newer rear units
- Fully renovated six‑unit building
- Four newer units located in a rear carriage house
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,362
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,047,240
$1.0M
Cap Rate 7%
$748,029
$748.0K
Cap Rate 9%
$581,800
$581.8K
Market Conditions
NOI Build-Up for 7,346 SF
Gross rent
$99.2K $13.50/SF
− Vacancy
−$4.0K −$0.54/SF
EGI
$95.2K $12.96/SF
− OpEx
−$42.8K −$5.83/SF
NOI
$52.4K $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 Rate 5%
$1,047,240
Cap Rate 7%
$748,029
Cap Rate 9%
$581,800
Alternative Uses
Best Use
Apartment 5plus
$748.0K
$654.5K – $872.7K
NOI $52,362 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,015 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 99362, WA
43,249
Population
18,022
Households
2.4
Avg Household Size
40
Median Age
31%
College-Educated
90%
High-School Grad
303.1 sq mi
ZIP Area
143
Density / Sq Mi
$70,660
Median Household Income
$37,236
Median Earnings
$1,148
Median Rent
$398,000
Median Home Value
Check the figures for this property
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 - Multifamily asset with a renovated six-unit building and four newer rear units in a carriage house.
Where is this apartment building located?
The property is located at 329 S 3rd Ave Walla Walla, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 10‑unit multifamily property with 6 units in the main building and 4 newer rear units; Fully renovated six‑unit building; Four newer units located in a rear carriage house
