Remodeled Four-Unit
For Sale
$369,000
705 E Lincoln Ave, Yakima, WA 98901
Rental Income, Yakima, WA
Property Size2,477 SF
Lot Size0.15 Acres
Price / SF$148.97
Days on Market147
Property Features for 705 E Lincoln Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R1 - Single Fam Res
Bedrooms
2
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 2
Directions
Go N on 8th St. from Yakima Ave, Left on E Lincoln Ave., Property on the R side.
Subdivision
1A - NE Yakima
Standard status
Active
APN
19131843429
Size
2,477 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2567
Utilities
Heating system
Baseboard, Electric (Heating)
Water source
Public
Building Details
Year built
1925
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Coldwell Banker Cascade Real Estate · Coldwell Banker Real Estate
(509) 248-5050
Listed By:
Mariana Cuevas · License #93402
(509) 930-5882
Added: May 1
Changed: Sep 17
Last Checked: Sep 24 at 6:06AM
MLS# 26-1247
Copyright © 2026 Yakima Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,477-square-foot frame quadplex contains three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. The property was built in 1925 and sits on a 0.15-acre lot. Recent work includes remodeled interiors, new flooring, fresh paint, bathroom improvements, exterior updates, and roofing work. Each residence has its own water heater and separate electric meter.
All four units are occupied and served by public utilities. Electric baseboard heating and a composition roof are in place. The property is positioned near freeway access, shopping, dining, local markets, community amenities, and a nearby water park, supporting convenient access for residents.
All four units are occupied and served by public utilities. Electric baseboard heating and a composition roof are in place. The property is positioned near freeway access, shopping, dining, local markets, community amenities, and a nearby water park, supporting convenient access for residents.
Key Highlights
- Four‑unit property with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- 2,477 square feet on a 0.15‑acre lot
- All units occupied
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
$27,811
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
7.54%
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%
$556,220
$556.2K
Cap Rate 7%
$397,300
$397.3K
Cap Rate 9%
$309,011
$309.0K
Market Conditions
NOI Build-Up for 2,477 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
$42.5K $17.16/SF
− Vacancy
−$2.8K −$1.12/SF
EGI
$39.7K $16.04/SF
− OpEx
−$11.9K −$4.81/SF
NOI
$27.8K $11.23/SF
Area
Yakima County, WA
Vacancy
6.53%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$556,220
Cap Rate 7%
$397,300
Cap Rate 9%
$309,011
Alternative Uses
Best Use
Multifamily LT 5
$397.3K
$347.6K – $463.5K
NOI $27,811 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$345.8K
$302.6K – $403.5K
NOI $24,208 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$503.0K
$440.1K – $586.9K
NOI $35,211 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 98901, WA
32,351
Population
12,201
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
72%
High-School Grad
184.5 sq mi
ZIP Area
175
Density / Sq Mi
$56,429
Median Household Income
$33,058
Median Earnings
$996
Median Rent
$268,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied fourplex with refreshed interiors, separate electric metering, and public utilities.
Where is this quadplex located?
The property is located at 705 E Lincoln Ave Yakima, WA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Four‑unit property with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; 2,477 square feet on a 0.15‑acre lot; All units occupied
