1311 Shoshone St Pasco, WA 99301
- Commercial real estate
- 5,700 SF
- 0.40 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1311 Shoshone St
- Year built
- 1949
- Lot size
- 0.40 lot acres
- Property size
- 5,700 SF
- Property type
- Commercial real estate
- APN
- 112242190
Description
This exceptional investment opportunity presents a stabilized, 9-unit apartment building located at 1311 W Shoshone St, Pasco, WA 99301, in Franklin County. The property, known as Granite Nine, boasts a total of 5,700 square feet across three, single-story buildings situated on a 0.396-acre lot. Built in 1949 and extensively renovated in 2022, this Class C multifamily property offers a compelling return on investment. The asking price is $1,375,000, translating to a price per square foot of $241.23 and a price per unit of $152,777.78. The property's strong performance is reflected in its current Net Operating Income (NOI) of $97,781, yielding a 7.11% capitalization rate. The unit mix comprises eight one-bedroom, one-bathroom units and one three-bedroom, one-bathroom unit, the latter featuring a detached garage. All units include washer and dryer hookups, with refrigerators and range ovens provided by the owner. Tenants are responsible for their own washer, dryer, and microwave. The property is zoned R2 and benefits from its location in Pasco, WA, a rapidly growing market with high job growth and strong rental demand. This is a turnkey investment ready for immediate income generation. The APN is 112242190.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pasco
- County
- Franklin
- State
- Washington
- Longitude
- -119.1060997
- Latitude
- 46.2316401
