CLOSED: 21st Ave 4plex

1810 W 21st Ave, Kennewick, WA 99337

Beautifully maintained Fourplex in Kennewick. The property offers rare and spacious 3-bedroom, 2-bathroom units. These units are hard to come by in the Tri-Cities, so units fill up quickly and stay full, commanding higher rental rates than other fourplexes in town.

This is a fantastic investment opportunity for any multi-family investor looking to place capital in a stable, cash-flowing asset. Proforma rental rates have been achieved in one unit, proving the ability to increase remaining units to market rate.

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Investment Opportunity

Day 1 Cashflow

Based on historical operating and current rents
Investors could achieve high single-digit cash on cash returns

Value-Add Options

Proven market rents in one unit
Increase remaining 3 units to market-rate rents
Renegotiate property management fee down from 9% (current) to 5% (proforma)

Ideal Unit Mix

Large 3-bedroom, 2-bathroom units (1,120 SF each)
Highly sought-after unit type for Tri-Cities renters
Commands higher rental rates, boosts NOI, and eliminates vacancy

Executive Highlights

Sale Price: $590,000 (+$15k over asking)

4 spacious income-producing units

3-bedroom, 2-bathroom unit mix

2 recently renovated unit interiors

In-place cash flow opportunity day 1

Proven rent at market rate with one unit

Opportunity for utility bill-back and additional income sources

Beautiful and quiet residential street location

Off-street parking next to building

Dedicated yard space for bottom-floor tenants

Private balcony for top-floor tenants

Renovations completed in neighboring apartments, showing within the path of growth

3.new

Gallery

3.new

6 (1)

12 (1)

10 (1)

PACMLS #251367

CBA #635477