Territorial View
3708 Carriage Park Lane Yakima, WA 98902
3708 Carriage Park Lane, Yakima, WA, 98902
$737,500
For Sale
$737,500
Fourplex with a 50/50 mix of 1-bedroom and townhouse-style 2-bedroom units, plus oversized garages.
Property Size3,168 SF
Price / SF$232.80
Days on Market155
Property Features for 3708 Carriage Park Lane
General Information
- Standard status
- Active
- Size
- 3,168 SF
- Property subtype
- Multi Family / Fourplex
Building Details
- Year Built
- 1998
Listing agency
Almon Commercial-Residential Real Estate
(509) 480-0733
Listed by
Nicholas R Mayer · License #90998
(509) 480-0733
Source
Compass
Added: Feb 18 Updated: Jul 22 at 5:04PM Checked: Jul 22 at 5:04PM
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-Residential Real Estate
Investment Insights
Based on property information with market context.
This West Yakima fourplex offers a mix of unit types, with 1-bedroom, 1-bath homes paired alongside townhouse-style 2-bedroom, 2-bath units. The property includes oversized garages and features Hardi-plank siding designed for low maintenance. Recent improvements include a new roof and fresh exterior paint, and several units have gas fireplaces.
Rental terms provide flexibility, with three of the four units currently on month-to-month leases. The remaining unit has a lease expiring in August 2026.
The offering is presented as well maintained and maintained with pride of ownership, and the current rents are approximately 13% below market, supporting a value-add position for an investor seeking opportunities to adjust income over time.
Rental terms provide flexibility, with three of the four units currently on month-to-month leases. The remaining unit has a lease expiring in August 2026.
The offering is presented as well maintained and maintained with pride of ownership, and the current rents are approximately 13% below market, supporting a value-add position for an investor seeking opportunities to adjust income over time.
Key Highlights
- West Yakima four‑plex built in 1998
- 50/50 unit mix: four units total with 1‑bedroom/1‑bath and townhouse‑style 2‑bedroom/2‑bath units
- Current rents are approximately 13% below market
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 | $54.4k | $17.16 |
| − Vacancy | −$3.5k | −$1.12 |
| EGI | $50.8k | $16.04 |
| − OpEx | −$15.2k | −$4.81 |
| NOI | $35.6k | $11.23 |
3,168 SF · lease $17.16/SF/yr · vacancy 6.53% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$508.1K
$444.6K – $592.8K
NOI $35,569 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$442.3K
$387.0K – $516.0K
NOI $30,961 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$643.3K
$562.9K – $750.6K
NOI $45,034 @ 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
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fourplex with a 50/50 mix of 1-bedroom and townhouse-style 2-bedroom units, plus oversized garages.
Where is this quadplex located?
The property is located at 3708 Carriage Park Lane Yakima, WA.
What is the asking price?
The asking price for this property is $737,500.
What are key features of this property?
This property features: West Yakima four‑plex built in 1998; 50/50 unit mix: four units total with 1‑bedroom/1‑bath and townhouse‑style 2‑bedroom/2‑bath units; Current rents are approximately 13% below market
