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    Property profile & analytics

    1923 Vancouver St Kennewick, WA 99337-3542

    • Apartment buildings
    • 18,945 SF
    • 1.22 lot acres
    OFF-MARKET
    Last Sale
    Dec 15, 2021
    $2,630,340
    Value Estimations
    $2,515,000
    Show details
    Cap Rate Potential
    3.4%
    Apartment buildings
    Location Intelligence
    Property ID
    US90-2936344
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pine Tree Park Apartments / Apartment Complex / Leasing Service

    Property Details for 1923 Vancouver St

    Year built
    2016
    Construction
    CONCRETE
    Lot size
    1.22 lot acres
    Property size
    18,945 SF
    Property type
    Apartment buildings
    APN
    111894013507002
    APU
    111894013507002

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,435,000
      6.5%
      $2,245,000
      7%
      $2,085,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,549,000
      Market price range: $2.55M - $16.5M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.148
    Latitude
    46.1908
    CBSA code
    28420
    CBSA name
    KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $156,480
    $2,491,420
    $2,647,900
    -
    $156,480
    $2,491,420
    $2,647,900

    Comparable in this City

    • Value Estimation by Request
      1.23 Acres

      1863 19th Ave

      APARTMENT HOUSE (5+ UNITS) • 1.23 Acres
      1863 19th Ave, Kennewick, WA 99337-3685
      View Details
    • Value Estimation
      $1,220,000
      14,594 SF

      2112 Rainier St

      APARTMENT HOUSE (5+ UNITS) • 14,594 SF
      2112 Rainier St, Kennewick, WA 99337-3627
      View Details
    • Value Estimation
      $1,270,000
      10,116 SF

      1803 21st Ave

      APARTMENT HOUSE (5+ UNITS) • 10,116 SF
      1803 21st Ave, Kennewick, WA 99337-3531
      View Details
    • Value Estimation
      $800,000
      9,252 SF

      17 24th Ave

      APARTMENT HOUSE (5+ UNITS) • 9,252 SF
      17 24th Ave, Kennewick, WA 99337-4913
      View Details
    • Value Estimation
      $15,075,000
      3.87 Acres

      2652 15th Ave

      APARTMENT HOUSE (5+ UNITS) • 3.87 Acres
      2652 15th Ave, Kennewick, WA 99337-2718
      View Details
    • Value Estimation by Request
      1,831 SF

      1917 19th Ave

      APARTMENT HOUSE (5+ UNITS) • 1,831 SF
      1917 19th Ave, Kennewick, WA 99337-3518
      View Details

    Similar Nearby for Sale

    • New
      $550,000
      3,064 SF

      Remodeled Tri-Plex on Spacious Lot

      Income-generating triplex with remodeled units, ample parking, and strong rental.
      224204 E Main St, Kennewick, WA 99337
      View Details
    • $580,000
      2,500 SF

      South Kennewick Duplex on Large Lot

      Duplex with updated interiors, large lot, and versatile outdoor amenities.
      2216 S Rainier St, Kennewick, WA 99337
      View Details
    • New
      $495,000
      14.03 Acres

      Kennewick Acreage with Approved Homesite

      14.03-acre parcel with well, electricity, and approved homesite.
      S Nine Canyon Rd, Kennewick, WA 99337
      View Details
    • $125,000
      0.45 Acres

      Residential Land in Kennewick, WA

      Residential lot with utilities available in Kennewick, Washington.
      5211 S Palouse Ct, Kennewick, WA 99337
      View Details
    • $903,300
      Pending

      Kennewick View Property on 90+ Acres

      90.33 acres of view property in Southeast Kennewick.
      90.33 acres S Olympia St, Kennewick, WA 99337
      View Details
    • $200,000
      1.00 Acre

      One-Acre Residential Lot, Kennewick

      One-acre residential lot with utilities, ready for building.
      2 E 23Rd Ave, Kennewick, WA 99337
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr

      Kennewick Office Space For Rent

      Office space in South Kennewick near Highway 395.
      3208 W 19Th Ave, Kennewick, WA 99337
      View Details
    • Contact for pricing
      8,314 SF

      Restaurant/Bar Space on Highway 395

      High-visibility restaurant/bar space with existing infrastructure in growing area.
      4862 W Hildebrand Blvd, Kennewick, WA 99337
      View Details
    • $16 SF/Yr

      Kennewick Office Flex Building

      High-end office/flex building with warehouse space for lease or sale.
      3123 W 24Th Ave, Kennewick, WA 99337
      View Details
    • $3,641 /Mo
      1,900 SF

      Retail Space in High-Traffic Location

      Retail space with multiple rooms in South Kennewick.
      2909 S Quillan St, Kennewick, WA 99337
      View Details
    • $20 SF/Yr

      Luxury Mixed-Use Corner Suite

      1,600 SF end-cap suite in Kennewick's premier destination.
      4112 West 24Th Ave, Kennewick, WA 99337
      View Details
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    1923 Vancouver St
    Kennewick, WA 99337-3542
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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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