Updated Four-Unit Multifamily
For Sale
Contact for pricing
720 N 3rd Ave A B C D, Yakima, WA 98902
R3 - Multi Fam Res zoning, refreshed flooring, and a roof approximately two years old support this four-unit property.
Property Size3,175 SF
Price / SF$140.16
Days on Market10
Property Features for 720 N 3rd Ave A B C D
General Information
Standard status
Active
Size
3,175 SF
Property subtype
Retail
Zoning
R3 - Multi Fam Res
Units
Multifamily Units
4
Parking per Unit
2
Amenities
in-unit laundry
Building Details
Year Built
1960
Stories
1
Listing Agency:
RE/MAX, The Collective
(509) 834-1200
Listed By:
Haley Larson · License #22030742
Source:
Crexi
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 30 at 7:28AM
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 RE/MAX, The Collective
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,175 square feet and was built in 1960. Recent physical updates include a roof approximately two years old and newer flooring throughout the units. The two 2-bedroom units include in-unit laundry, while every unit has two designated parking spaces.
The property is zoned R3 - Multi Fam Res and is located at 720 N 3rd Ave A, B, C, D in Yakima, Washington. Its central setting provides access to shopping, dining, schools, and major commuter routes. The configuration combines multiple residential units with defined parking and select in-unit laundry amenities.
The property is zoned R3 - Multi Fam Res and is located at 720 N 3rd Ave A, B, C, D in Yakima, Washington. Its central setting provides access to shopping, dining, schools, and major commuter routes. The configuration combines multiple residential units with defined parking and select in-unit laundry amenities.
Key Highlights
- Four‑unit multifamily property with 3,175 square feet
- R3 - Multi Fam Res zoning
- Roof approximately two years old
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
$35,648
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
8.01%
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%
$712,960
$713.0K
Cap Rate 7%
$509,257
$509.3K
Cap Rate 9%
$396,089
$396.1K
Market Conditions
NOI Build-Up for 3,175 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
$54.5K $17.16/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$50.9K $16.04/SF
− OpEx
−$15.3K −$4.81/SF
NOI
$35.6K $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%
$712,960
Cap Rate 7%
$509,257
Cap Rate 9%
$396,089
Alternative Uses
Best Use
Multifamily LT 5
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$443.3K
$387.9K – $517.2K
NOI $31,029 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$644.8K
$564.2K – $752.2K
NOI $45,134 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R3 - Multi Fam Res zoning, refreshed flooring, and a roof approximately two years old support this four-unit property.
Where is this quadplex located?
The property is located at 720 N 3rd Ave A B C D Yakima, WA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,175 square feet; R3 - Multi Fam Res zoning; Roof approximately two years old
