Well-Maintained Fourplex
3700 Carriage Park Yakima, WA 98902
3700 Carriage Park, Yakima, WA, 98902
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For Sale
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Two West Yakima fourplexes total eight units, with new roofs, fresh exterior paint, and a mix of 1- and 2-bedroom townhome layouts.
Property Size6,336 SF
Price / SF$232.80
Days on Market153
Property Features for 3700 Carriage Park
General Information
- Standard status
- Active
- Size
- 6,336 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1998
Listing agency
Almon Commercial Real Estate
(509) 480-0733
Listed by
Nick Mayer · License #WA 90998
Source
Crexi
Added: Feb 18 Updated: Jul 21 at 1:39AM Checked: Jul 21 at 10:55AM
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 Almon Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering includes two well-maintained fourplex properties in West Yakima, totaling eight residential units. The unit mix is a 50/50 combination of 1-bedroom, 1-bath units and townhouse-style 2-bedroom, 2-bath units. Improvements and exterior features include recently installed new roofs and fresh exterior paint, durable low-maintenance Hardi-plank siding, and in-unit gas fireplaces. The properties also include oversized garages.
Leasing flexibility is supported by current occupancy terms: seven of the eight units are on month-to-month leases, and the remaining unit’s lease is scheduled to expire in August 2026. The package also includes the neighboring fourplex at 3700 Carriage Park, and the assets are located on two separate tax parcels.
Rents are approximately 18% below market, presenting an opportunity to align income through adjustments over time.
Leasing flexibility is supported by current occupancy terms: seven of the eight units are on month-to-month leases, and the remaining unit’s lease is scheduled to expire in August 2026. The package also includes the neighboring fourplex at 3700 Carriage Park, and the assets are located on two separate tax parcels.
Rents are approximately 18% below market, presenting an opportunity to align income through adjustments over time.
Key Highlights
- Two West Yakima fourplex properties totaling 8 units; 1998 year built
- Unit mix includes 1BD/1BA units and townhouse‑style 2BD/2BA units
- Recent exterior updates include new roofs and fresh exterior paint
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.7k | $17.16 |
| − Vacancy | −$7.1k | −$1.12 |
| EGI | $101.6k | $16.04 |
| − OpEx | −$30.5k | −$4.81 |
| NOI | $71.1k | $11.23 |
6,336 SF · lease $17.16/SF/yr · vacancy 6.53% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.2K – $1.19M
NOI $71,138 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$884.6K
$774.0K – $1.03M
NOI $61,922 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,069 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Two West Yakima fourplexes total eight units, with new roofs, fresh exterior paint, and a mix of 1- and 2-bedroom townhome layouts.
Where is this quadplex located?
The property is located at 3700 Carriage Park Yakima, WA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Two West Yakima fourplex properties totaling 8 units; 1998 year built; Unit mix includes 1BD/1BA units and townhouse‑style 2BD/2BA units; Recent exterior updates include new roofs and fresh exterior paint
