Building Details

Year Built 1997

Listing Agency: Windermere RE/Lk Chelan Midtwn

Listed By: Joe Collins Show Phone

Source: Century21northhomes

Added: Jul 25 Changed: Oct 10 Last Checked: Oct 10 at 1:28AM

Report an Issue

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 Windermere RE/Lk Chelan Midtwn

Investment Insights

Based on property information with market context.

This quadplex includes four apartments plus a separate one-bedroom loft apartment positioned above a two-car garage/shop. The fourplex units have been renovated within the past 4 years and feature individual fireplaces, large covered decks, panoramic lake views, and dedicated 2 space carports. The property also has a newer roof and updated HVAC systems.

The setting provides 180-degree views of Lake Chelan and Wapato Point. Downtown Manson is just minutes away, with access to restaurants, shopping, wineries, community parks, boat launches, and public swimming areas.

Key Highlights

• Fourplex plus one‑bedroom standalone loft apartment above a two‑car garage/shop
• 180‑degree views of Lake Chelan and Wapato Point
• Every unit renovated within the past 4 years

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,764

Cap Rate

2.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$775,280 $775.3K

Cap Rate 7%

$553,771 $553.8K

Cap Rate 9%

$430,711 $430.7K

Market Conditions

NOI Build-Up for 3,298 SF

Gross rent

$57.4K $17.40/SF

− Vacancy

−$2.0K −$0.61/SF

EGI

$55.4K $16.79/SF

− OpEx

−$16.6K −$5.04/SF

NOI

$38.8K $11.75/SF

Area

Chelan County, WA

Vacancy

3.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$775,280

Cap Rate 7%

$553,771

Cap Rate 9%

$430,711

Alternative Uses

Best Use

Multifamily LT 5

$553.8K

$484.6K – $646.1K (±1% cap)

NOI $38,764 @ 7.0% cap · market cap 2.87%

Second Best

Apartment 5plus

$467.5K

$409.1K – $545.4K (±1% cap)

NOI $32,726 @ 7.0% cap · market cap 2.42%

Theoretical Best

Office A

$865.0K

$756.9K – $1.01M (±1% cap)

NOI $60,551 @ 7.0% cap · market cap 4.49%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Parking Lot & Garage Building Supply Big Box & Wholesale Store Furniture & Home Goods (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1

Businesses Nearby

Explore this area Business Placement

Demographics for 98831, WA

3,955

Population

2,253

Households

1.8

Avg Household Size

48

Median Age

32%

College-Educated

78%

High-School Grad

47.0 sq mi

ZIP Area

84

Density / Sq Mi

$73,223

Median Household Income

$34,316

Median Earnings

$1,397

Median Rent

$652,300

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Restaurant Property

76 Wapato Way, Manson, WA 98816

$1,590,000

View details

Retail Space with Laundromat

84 Wapato Way, Manson, WA 98831

$599,000

View details

Harmony Meadows Resort

4848 Green Ave, Manson, WA 98831

$4,950,000

View details

Established Conventional Restaurant Business

10 Wapato Point Parkway A, Manson, WA 98831

$75,000

View details

Sub Shop Restaurant with Outdoor Seating

A-10 Wapato Point Parkway, Manson, WA 98831

$75,000

View details

Frequently Asked Questions

What type of property is this?

Quadplex - A renovated multiunit property includes a standalone loft, garage/shop space, and panoramic lake views.

Where is this quadplex located?

The property is located at 57 Katalpa Manson, WA.

What is the asking price?

The asking price for this property is $1,350,000.

What are key features of this property?

This property features: Fourplex plus one‑bedroom standalone loft apartment above a two‑car garage/shop; 180‑degree views of Lake Chelan and Wapato Point; Every unit renovated within the past 4 years