Single-Story Quadplex with Metal
For Sale
$365,000
705 N 1st St, Yakima, WA 98901
Rental Income, Yakima, WA
Property Size2,610 SF
Lot Size0.16 Acres
Price / SF$139.85
Days on Market179
Property Features for 705 N 1st St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
OTH - Agt Remrk
Bedrooms
2
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
Subdivision
1A - NE Yakima
Standard status
Active
APN
181313-41465
Size
2,610 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2528
Utilities
Heating system
Baseboard
Water source
Public
Building Details
Year built
1950
Number of units
4
Roof type
Metal
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Amy Maib
(509) 949-2192
Added: Mar 12
Changed: Sep 5
Last Checked: Sep 6 at 12:06AM
MLS# 26-650
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 single-story quadplex contains four residential units within a 2,610-square-foot building on a 0.16-acre lot. Originally built in 1950, the property carries an effective year built of 1973 and has been updated over time. Physical features include a metal roof, poured concrete foundation, wood exterior, baseboard heating, and public water service. Sewer is connected, and no leased items transfer with the property.
The property is located in Yakima near Barge-Lincoln Elementary, Washington Middle School, and Davis High School. Residential zoning, the absence of HOA or common-interest community restrictions, and the four-unit configuration support continued use as a long-term rental property. The address is 705 N 1st St, Yakima, WA 98901.
The property is located in Yakima near Barge-Lincoln Elementary, Washington Middle School, and Davis High School. Residential zoning, the absence of HOA or common-interest community restrictions, and the four-unit configuration support continued use as a long-term rental property. The address is 705 N 1st St, Yakima, WA 98901.
Key Highlights
- Four‑unit, single‑story residential configuration
- 2,610‑square‑foot building on a 0.16‑acre lot
- Effective year built: 1973; original construction in 1950
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
$29,304
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
8.03%
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%
$586,080
$586.1K
Cap Rate 7%
$418,629
$418.6K
Cap Rate 9%
$325,600
$325.6K
Market Conditions
NOI Build-Up for 2,610 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
$44.8K $17.16/SF
− Vacancy
−$2.9K −$1.12/SF
EGI
$41.9K $16.04/SF
− OpEx
−$12.6K −$4.81/SF
NOI
$29.3K $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%
$586,080
Cap Rate 7%
$418,629
Cap Rate 9%
$325,600
Alternative Uses
Best Use
Multifamily LT 5
$418.6K
$366.3K – $488.4K
NOI $29,304 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$364.4K
$318.9K – $425.1K
NOI $25,508 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$530.0K
$463.8K – $618.4K
NOI $37,102 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
883
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
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 - Four-unit residential property with public water, baseboard heating, and a single-level layout in Yakima.
Where is this quadplex located?
The property is located at 705 N 1st St Yakima, WA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Four‑unit, single‑story residential configuration; 2,610‑square‑foot building on a 0.16‑acre lot; Effective year built: 1973; original construction in 1950
