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1304 W Hopkins St 4 Unit Apartment Building $575,000 ($143,750/Unit) 5.38% Cap Rate Pasco, WA 99301
Investment Highlights
- Supply constrained workforce housing
- Expanding Pasco employment base supports demand
- Efficient fourplex configuration
Executive Summary
Hopkins4 is a 4-unit multifamily property located at 1304 W Hopkins Street in central Pasco. Built in 1950, the brick fourplex offers three 2-bedroom, 1-bath units averaging 900 square feet and one 1-bedroom, 1-bath unit of 800 square feet.
The property is located in an established central Pasco neighborhood within walking distance of Memorial Park and its year-round aquatic center, Longfellow Elementary, and the shops and restaurants of the Lewis Street corridor. Recent public works projects have improved connectivity between downtown and east Pasco, while an expanding employment base continues to support demand for attainable workforce rental housing.
The property is located in an established central Pasco neighborhood within walking distance of Memorial Park and its year-round aquatic center, Longfellow Elementary, and the shops and restaurants of the Lewis Street corridor. Recent public works projects have improved connectivity between downtown and east Pasco, while an expanding employment base continues to support demand for attainable workforce rental housing.
Property Facts
| Price | $575,000 | Building Class | C |
| Price Per Unit | $143,750 | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 3,808 SF |
| Cap Rate | 5.38% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 1.58/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-2 | ||
| Price | $575,000 |
| Price Per Unit | $143,750 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,808 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | R-2 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 112-271-097 | Improvements Assessment | $371,600 |
| Land Assessment | $87,300 | Total Assessment | $458,900 |
Property Taxes
Parcel Number
112-271-097
Land Assessment
$87,300
Improvements Assessment
$371,600
Total Assessment
$458,900
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1304 W Hopkins St