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    Single-Level Yakima 4-Plex Investment Title is generated by Realmo AI

    706 North 15th Avenue, Yakima, WA 98902

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    For Sale
    $425,000

    Four-unit multifamily property in Yakima, fully occupied, investment opportunity.

    Type:Multi Family / Fourplex
    Property size:
    2,176 SF
    Price / SF:
    $195/SF
    Added:
    May 25, 2026
    Days on Market:
    8
    Last Refresh:
    May 27 at 8:08 am

    Property Features for 706 North 15th Avenue

    General Information

    Standard status
    Active
    Size
    2,176 SF
    Property subtype
    Multi Family / Fourplex

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Chris Thorn

    Listing agent Chris Thorn License #139157

    Listing office John L Scott Yakima

    Listing date May 25, 2026

    Source Compass

    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 John L Scott Yakima

    HighLights

    • Strong income potential with a gross monthly rental income of $2,972 when fully rented.
    • Enjoy immediate cash flow with 100% occupancy.
    • Single‑level units offer accessibility and convenience.
    • Four individual units provide multiple rental income streams.
    • Each unit includes a dedicated parking space.
    • Solid rental history.

    Overview

    This single-level 4-plex in Yakima presents an investment opportunity with strong rental appeal. The property features four units, all on one level, each containing one bedroom and one bathroom. Each unit includes a parking space. The property has a solid rental history and is currently 100% occupied. The property size is 2176 square feet. The current gross monthly rental income is $2,972 when fully rented. Tenants are responsible for paying electricity.

    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 $37.3k $17.16
    − Vacancy −$2.4k −$1.12
    EGI $34.9k $16.04
    − OpEx −$10.5k −$4.81
    NOI $24.4k $11.23
    2,176 SF · lease $17.16/SF/yr · vacancy 6.53% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $349.0K
    $305.4K – $407.2K (±1% cap)
    NOI $24,431 @ 7.0% cap · market cap 5.75%
    Second Best
    Apartment 5plus
    $303.8K
    $265.8K – $354.4K (±1% cap)
    NOI $21,266 @ 7.0% cap · market cap 5.00%
    Theoretical Best
    Office A
    $441.9K
    $386.7K – $515.6K (±1% cap)
    NOI $30,933 @ 7.0% cap · market cap 7.28%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.5294431
    Latitude
    46.6092082

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    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in Yakima, fully occupied, investment opportunity.
    Where is this quadplex located?
    The property is located at 706 North 15th Avenue Yakima, WA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Strong income potential with a gross monthly rental income of $2,972 when fully rented.; Enjoy immediate cash flow with 100% occupancy.; Single‑level units offer accessibility and convenience.
    (509) 952-7788
    We can help!
    Listing Contact
    Chris Thorn
    Real Estate License ID: 139157
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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