906 N Cleveland Exterior Main

Cleveland St Fourplex

906 N Cleveland St, Kennewick, WA 99336

Value-add fourplex in central Kennewick.  This is a fantastic investment opportunity for any multi-family investor to create forced appreciation.

Proforma rental rates come from neighboring properties, proving the ability to achieve market rent on this block.  Potential value creation of +$175,000 by achieving proforma projections at a 5.50% cap rate.

Property has been self-managed for 5 years, with little-to-no rental increases, creating an opportunity for immediate value with efficient and professional management.

Investment Opportunity

Value-Add Opportunity

  • Proven market rents on Cleveland St for a similar unit mix
  • Increase all 4 units to market-rate rents
  • Eliminate collection losses with efficient professional management


Ideal Unit Mix

  • Large 3-bedroom, 1.5-bathroom units (1,128 SF each)
  • Highly sought-after unit type for Tri-Cities renters
  • Commands higher rental rates, boosts NOI, and eliminates vacancy


Central Location

  • Nearby Clearwater shopping and businesses
  • Minutes to the Columbia River
  • Recent property redevelopment show property is positioned for growth

  Mason Fiascone

  Multi-family Advisor

  Mobile: (509) 221-9354


Executive Highlights

Sale Price: $428,000

4 income-producing units

3-bedroom, 1.5-bathroom unit mix

Roof Maxx applied with a 4-year warranty remaining

Value-add opportunity

Proven rent at nearby 4plex buildings

Opportunity for utility bill-back and efficient property management

8 off-street parking spaces

Cul-de-sac eliminates through traffic

Fully fenced-in backyard with irrigation

Spacious backyard with endless possibilities


  Mason Fiascone

  Multi-family Advisor

  Mobile: (509) 221-9354



  Mason Fiascone

  Multi-family Advisor

  Mobile: (509) 221-9354


PACMLS #251367

CBA #635745