THIS OFFERING is for the opportunity to purchase a quality constructed, seven-unit, value-addapartment building competitively priced only $133/SF. Centrally located and in close proximity todominant east/west and north/south urban arterials this investment is poised for positive upside.The unit mix includes a single 1Bd/1Ba +/- 735SF unit and six 2Bd/1Ba +/- 950SF units accompanied byten dedicated off-street parking spaces. The roof is ten years old and the building has a coin-op community laundry room with seven private storage units and two private garages (approximately 150SF each) currently leased as storage. The apartments are large in size with original trim and ownership has maintained them meticulously for 22 years.Increased cash-flow and heightened value can be achieved by way of minor modern updates, a moreaggressive management strategy and elevating rents to market rate. Current rent rates are approximately 25% below average.
Sold for $850,000 on 03/14/24
$850,000
1311 Folsom Ave, Yakima, WA 98902
3beds
3baths
6,732sqft
Apartment, Multi Family
Built in 1971
-- sqft lot
$-- Zestimate®
$126/sqft
$1,409 Estimated rent
Owner options
What's special
Zillow last checked: 8 hours ago
Listing updated: September 04, 2024 at 04:20pm
Listed by:
Nicholas R Mayer 509-480-0733,
Almon Commercial-Residential Real Estate
Bought with:
Ricardo Gonzalez, 22003632
Yakima-CW Real Estate, LLC
Source: YARMLS,MLS#: 24-265
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
Heating
- Baseboard, Wall Furnace
Interior area
- Total structure area: 6,732
- Total interior livable area: 6,732 sqft
Property
Parking
- Total spaces: 10
- Parking features: Garage, Garage
- Garage spaces: 2
Accessibility
- Accessibility features: Doors 32in+, Hallways 32in+
Lot
- Size: 9,583 sqft
Details
- Parcel number: 18132424575
- Zoning: R3
- Zoning description: Multi Fam Res
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment, Multi Family
Materials
- Wood Siding, Frame
- Roof: Composition
Condition
- Year built: 1971
Utilities & green energy
- Water: Public
- Utilities for property: Sewer Connected
Community & neighborhood
Community
- Community features: Laundry, Storage
Location
- Region: Yakima
Other
Other facts
- Listing terms: Cash,Commercial,Conventional,Private Financing Available