308 Fir StToppenish, WA 98948

Property Details for 308 Fir St

Year built

1949

Lot size

0.59 AC

Property size (Sq ft)

4,720 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 10-unit apartment building located at 308 S. Fir St, Toppenish, WA 98948. The property, situated on a 0.59-acre lot, consists of two single-story buildings totaling 4,720 square feet. Built in 1949 and extensively renovated in 1989, the structure is of solid block construction. The renovation included a complete rebuild down to the studs. The property boasts a newer 40-year commercial composition roof, a recently installed drain system, and a newly paved parking lot. Currently operating at 100% occupancy (as of October 1, 2024), the property features seven one-bedroom units and three studio units, along with a convenient laundry room. The asking price is $625,000, representing $62,500 per unit and a price per square foot of $132.28. The property's Net Operating Income (NOI) is $35,020, yielding a 5.60% capitalization rate. The permitted zoning is B1. Below-market rents offer significant potential for increased income. The property's comprehensive renovation and strong occupancy rate make it an attractive investment with considerable upside potential. Further details are available in the marketing package.

Location Insight

City

Toppenish

County

Yakima

State

Washington

Latitude

46.3764

Longitude

-120.32

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