Eisenhower Apartments 1011-1015 S 48th Ave 18 Unit Apartment Building $4,384,358 CAD ($243,575 CAD/Unit) 4.59% Cap Rate Yakima, WA 98908

The Eisenhower Complex is a stabilized 18 unit multifamily investment located in one of West Yakima’s most established rental corridors. The offering includes a 16 unit apartment property plus a duplex, creating a two bedroom dominant unit mix with broad renter appeal. The property is currently 100% occupied, with current scheduled rent exceeding 2025 reported cash basis rental income and additional income generated from coin operated laundry.
Ideally positioned near MultiCare Yakima Memorial Hospital, Yakima Valley College, Wilson Middle School, Eisenhower High School, West Valley Middle School, shopping, dining, parks, fitness centers, golf courses, wineries, and Yakima Air Terminal, the property benefits from convenient access to major healthcare, education, employment, retail, and daily service demand drivers.
The combined property features R 3 zoning, approximately 1.54 total acres, approximately 15,728 total building square feet, 36 total parking spaces including covered parking, and irrigated grounds. The duplex includes two spacious 2 bedroom, 1 bathroom units of approximately 1,001 square feet each, with carport and driveway parking.
Ownership has completed meaningful capital improvements and ongoing unit remodels, supporting tenant appeal, durability, and overall rental desirability. Certain 2025 reported expenses reflect non recurring capital work, creating potential upside when evaluating normalized operations. With stable in place performance, scheduled rent above 2025 reported cash basis rental income, a marketable unit mix, meaningful reinvestment, and a strong West Yakima location, the Eisenhower Complex represents a well maintained, strategically positioned multifamily investment opportunity.