Three-Bedroom Residential Income
For Sale
$285,000
4214 W Klamath Ave, Kennewick, WA 99336
Condominium residence with private balcony, attached garage, and access to extensive shared recreation amenities.
Property Size1,646 SF
Price / SF$173.15
Days on Market33
Property Features for 4214 W Klamath Ave
General Information
Standard status
Active
Size
1,646 SF
Property subtype
Land
Building Details
Year Built
1974
Listing Agency:
Tri-Cities Realty Group, LLC
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Aug 12
Changed: Sep 12
Last Checked: Sep 12 at 8:28AM
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 Tri-Cities Realty Group, LLC
Investment Insights
Based on property information with market context.
This 1,646-square-foot condominium residence, built in 1974, includes three bedrooms and a practical multi-level layout. The main level features a stainless-steel appliance package, seating area, powder room, pantry, storage closet, garage entry, and laundry room with a deep utility sink. Vaulted living and dining areas add volume, while the primary bedroom includes a tiled walk-in shower and access to a private upstairs balcony measuring almost 120 square feet.
Shared amenities include a pool, pool house, gym, separate men’s and women’s bathrooms, saunas, basketball hoops, pickleball court, dog park, and RV/boat parking. The landscaped courtyard incorporates mature flowering and evergreen trees, and the residence offers views across the river toward Pasco from its bedrooms and balcony.
Shared amenities include a pool, pool house, gym, separate men’s and women’s bathrooms, saunas, basketball hoops, pickleball court, dog park, and RV/boat parking. The landscaped courtyard incorporates mature flowering and evergreen trees, and the residence offers views across the river toward Pasco from its bedrooms and balcony.
Key Highlights
- 1,646‑square‑foot condominium residence with three bedrooms
- Private upstairs balcony measuring almost 120 sq ft
- Attached garage entry, pantry, storage, and laundry room with deep utility sink
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,682
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$253,640
$253.6K
Cap Rate 7%
$181,171
$181.2K
Cap Rate 9%
$140,911
$140.9K
Market Conditions
NOI Build-Up for 1,646 SF
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.
Gross rent
$25.3K $15.36/SF
− Vacancy
−$2.2K −$1.35/SF
EGI
$23.1K $14.01/SF
− OpEx
−$10.4K −$6.30/SF
NOI
$12.7K $7.70/SF
Area
Benton County, WA
Vacancy
8.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$253,640
Cap Rate 7%
$181,171
Cap Rate 9%
$140,911
Alternative Uses
Best Use
Apartment 5plus
$181.2K
$158.5K – $211.4K
NOI $12,682 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.5K
$399.5K – $532.6K
NOI $31,958 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
630
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with private balcony, attached garage, and access to extensive shared recreation amenities.
Where is this residential income property located?
The property is located at 4214 W Klamath Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,646‑square‑foot condominium residence with three bedrooms; Private upstairs balcony measuring almost 120 sq ft; Attached garage entry, pantry, storage, and laundry room with deep utility sink
