Log In/Sign Up
Your email has been sent.
20th Avenue Apartments 1020 S 20th Ave 20 Unit Apartment Building $2,500,000 ($125,000/Unit) 6.29% Cap Rate Yakima, WA 98902
Investment Highlights
- Rent Growth Potential: Rents are approximately 4.13% below market, providing near-term income growth potential
- Stabilized Occupancy: 100% occupied, reflecting strong tenant demand and operational stability
- Well-Located Asset: Situated in Yakima, WA, a market with steady housing demand fundamentals
- Attractive Yield: Offered at a 6.29% capitalization rate, supported by $157,244 NOI
- Efficient Unit Mix: All one-bedroom units averaging 665 SF, appealing to consistent renter demand
- On-Site Parking: Includes 32 surface parking spaces, enhancing tenant convenience and retention
Executive Summary
Northmarq is pleased to present 20th Avenue Apartments, a 20-unit multifamily apartment community located in Yakima, Washington. Built in 1971, the property spans approximately 13,300 net rentable square feet and consists entirely of one-bedroom residences, averaging 665 SF per unit. The community is currently 100% occupied and includes 32 surface parking spaces, supporting strong tenant convenience and stable leasing performance.
The property is being offered at $2.5 million, representing a 6.29% capitalization rate based on $157,244 in net operating income. It provides immediate in-place cash flow, with additional upside potential as current rents are approximately 3.97% below market, allowing for future income growth through strategic rent adjustments.
Yakima, Washington serves as one of Central Washington’s primary agricultural hubs, with a local economy driven by apple, hop, and wine production along with supporting industries in food processing, logistics, healthcare, and public services. These employment sectors provide a stable, year-round tenant base and support consistent demand for workforce housing. Limited new multifamily development further reinforces occupancy stability and rental resilience in the submarket.
The property is being offered at $2.5 million, representing a 6.29% capitalization rate based on $157,244 in net operating income. It provides immediate in-place cash flow, with additional upside potential as current rents are approximately 3.97% below market, allowing for future income growth through strategic rent adjustments.
Yakima, Washington serves as one of Central Washington’s primary agricultural hubs, with a local economy driven by apple, hop, and wine production along with supporting industries in food processing, logistics, healthcare, and public services. These employment sectors provide a stable, year-round tenant base and support consistent demand for workforce housing. Limited new multifamily development further reinforces occupancy stability and rental resilience in the submarket.
Property Facts
| Price | $2,500,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 13,300 SF |
| Cap Rate | 6.29% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 2.41/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $2,500,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 6.29% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 13,300 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 2.41/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 665 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 181326-13429 | Improvements Assessment | $1,849,800 |
| Land Assessment | $45,100 | Total Assessment | $1,894,900 |
Property Taxes
Parcel Number
181326-13429
Land Assessment
$45,100
Improvements Assessment
$1,849,800
Total Assessment
$1,894,900
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
20th Avenue Apartments | 1020 S 20th Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.