906 N Cleveland Exterior Main

CLOSED:
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.

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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

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

Gallery

906 N Cleveland Exterior Main

PACMLS #251367

CBA #635745