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1304 W Hopkins St 4 Unit Apartment Building $615,000 ($153,750/Unit) 6.02% Cap Rate Pasco, WA 99301
Investment Highlights
- Zoned R-2, the City of Pasco may allow an accessory dwelling unit to increase revenue without adding significant expense.
- Hopkins4 is within walking distance of Memorial Aquatic Park, Juanito’s Foods, and Casa de Alabastro church, and has easy access to major employers.
- Immediate 15%+ upside in rents with comprehensive interior renovation and strategic marketing effort.
Executive Summary
With an excellent walkable location in Pasco, near Memorial Aquatic Park, this 4-unit multifamily property is an ideal opportunity for a new investor to enter the multifamily market, or for an existing owner to expand their portfolio and build scale.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $615,000 | Apartment Style | Low-Rise |
| Price Per Unit | $153,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.02% | Building Size | 3,808 SF |
| No. Units | 4 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1950 |
| Zoning | R2 | ||
| Price | $615,000 |
| Price Per Unit | $153,750 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,808 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1950 |
| Zoning | R2 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 112-271-097 | Total Assessment | $458,900 |
| Land Assessment | $87,300 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $371,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
112-271-097
Land Assessment
$87,300
Improvements Assessment
$371,600
Total Assessment
$458,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1304 W Hopkins St
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