4-Unit Quadplex with Central
For Sale
$634,990
3506 W 1st Ave, Kennewick, WA 99336
Four two-bedroom residences include individual utility hookups and dedicated storage for tenants.
Property Size3,544 SF
Price / SF$179.17
Days on Market200
Property Features for 3506 W 1st Ave
General Information
Standard status
Active
Size
3,544 SF
Property subtype
Residential Income
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,024
Amenities
central air
dedicated tenant storage
large fenced yard
Listing Agency:
EXP Realty, LLC Tri Cities
(888) 317-5197
Listed By:
C. Todd Watkins · License #26297
(509) 947-3741
Source:
Exprealty
Added: Mar 25
Changed: Oct 7
Last Checked: Oct 9 at 9:24PM
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 EXP Realty, LLC Tri Cities
Investment Insights
Based on property information with market context.
This Kennewick quadplex contains four two-bedroom, one-bathroom units, each equipped with central air and utility hookups. Dedicated tenant storage serves the residences, while a fenced yard and off-street parking provide shared outdoor and vehicle space. The building is located at 3506 W 1st Ave.
Tenants pay for electricity, and the residents have an average tenure of more than seven years. The property combines a four-unit configuration with shared yard space and parking.
Tenants pay for electricity, and the residents have an average tenure of more than seven years. The property combines a four-unit configuration with shared yard space and parking.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Central air in all four residences
- Utility hookups and dedicated tenant storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,827
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,540
$616.5K
Cap Rate 7%
$440,386
$440.4K
Cap Rate 9%
$342,522
$342.5K
Market Conditions
NOI Build-Up for 3,544 SF
Gross rent
$48.1K $13.56/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$44.0K $12.43/SF
− OpEx
−$13.2K −$3.73/SF
NOI
$30.8K $8.70/SF
Area
Benton County, WA
Vacancy
8.36%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,540
Cap Rate 7%
$440,386
Cap Rate 9%
$342,522
Alternative Uses
Best Use
Multifamily LT 5
$440.4K
$385.3K – $513.8K
NOI $30,827 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$390.1K
$341.3K – $455.1K
NOI $27,305 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$983.0K
$860.1K – $1.15M
NOI $68,808 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,089
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences include individual utility hookups and dedicated storage for tenants.
Where is this quadplex located?
The property is located at 3506 W 1st Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $634,990.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Central air in all four residences; Utility hookups and dedicated tenant storage
