Chestnut West

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On the Market

Price: $1,050,000

Now Touring: Thursday, April 3: 10AM-1PM

Offers Date: Reviewed Upon Receipt. Offer review date TBA.

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Marketing Materials

Site Details

Address

1401 W Chestnut Ave

City, State

Yakima, WA

Units

Laundry

Shared (Owned)

Parking

10 Stalls

Residential Unit Summary

1x1

7 Units

2x1

3 Units

Total Units

10 Units

Opportunity

Chestnut West Apartments is a well-maintained, 10-unit value-add opportunity in the heart of Yakima, WA, offered at $1,050,000. Hitting the market for the first time in 32 years, the property benefits from a strong tenant base of professionals, including teachers, nurses, and graduate students. With 24% rent upside as-is and 34% potential with renovations, investors have a clear path to increasing cash flow. The property is centrally located near major employers such as Memorial Hospital and Yakima Valley College, offering stable demand in a growing market.

Rent Growth Potential

Market rents 7.24% cap rate, renovated rents 8.17% cap rate

Prime Location

Close to healthcare, education, and shopping

Value-Add Opportunity

Modernize interiors and common areas for significant rental upside

Once-in-a-Generation Opportunity

First time on market in 32 years

Location

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About the Area

Yakima is Eastern Washington’s third-largest city with year-over-year population growth

Yakima, WA, is a thriving city in Central Washington known for its strong agricultural industry, particularly as a leading producer of apples, hops, and wine grapes. The Yakima Valley supplies over 75% of the nation’s hops, making it a key player in the craft beer industry. In recent years, Yakima has experienced steady economic growth, driven by a diverse mix of industries, including healthcare, manufacturing, logistics, and tourism. The region’s expanding wine industry has also contributed to increased investment and development. With a lower cost of living compared to major metropolitan areas, Yakima has attracted businesses and new residents seeking economic opportunities and a high quality of life. The city serves as a regional hub for commerce, healthcare, and education in Eastern Washington, with strong infrastructure and access to major highways and rail lines. Additionally, Yakima’s semi-arid climate, with hot summers and mild winters, supports year-round outdoor recreation, including hiking, fishing, and skiing, making it an attractive place to live and work.

Workforce & Business Growth:

Yakima’s job market has expanded in recent years, with a growing workforce in healthcare, education, and manufacturing. The city has also seen increased investment in logistics and distribution due to its strategic location along Interstate 82 and proximity to major rail lines.