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(509) 393-9327
Real Estate Company
120 N Miller Street, Wenatchee, WA 98801
- $2,750,000
- 16,000
- SqFt
Listing Broker: Northmarq Multifamily, LLC; Steve Fischer; 425-830-2254; sfischer@northmarq.com
- List Price
- $2,750,000
- Status
- ACTIVE
- MLS#
- 2598658
- Style
- 52 - Duplex
- Finished SqFt
- 16,000
- Area Total SqFt
- 16000
- Annual Tax Ammount
- 19468.59
- Lot Size (sq ft)
- 39,640
- Sewer
- Sewer Connected
- Bank Owned
- Yes
Property Description
We are pleased to present Miller's Edge, a 14-unit multifamily portfolio in central Wenatchee spread across five separate parcels: three duplexes at 120, 210 and 214 N Miller St (210 and 214 are adjacent) and two adjacent fourplexes at 314 and 320 N Emerson Ave. Built between 1984 and 1988, the portfolio offers spacious two-bedroom floorplans, with eight 2 bed/1 bath units of approximately 1,000 to 1,200 SF and six 2 bed/1.5 bath units of approximately 1,200 SF, totaling approximately 16,000 net rentable SF, plus 14 carport spaces.The portfolio is 100% occupied and offered at $2,750,000 (approx. $196,000 per unit and $172 per SF), a 5.98% in-place cap rate and 9.75 GRM. Current rents average approximately $1,679 per unit against market rents of approximately $1,744, and a utility bill-back (RUBS) program offers additional income upside.Centrally located with convenient access to regional employment centers, schools, retail amenities and outdoor recreation, the properties benefit from Wenatchee's limited housing supply and steady rental demand. Sale is by a court-appointed receiver and subject to court approval.
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Additional Information
- Community
- Wenatchee
- Net Operating Income
- $164,356
- Gross Adjusted Income
- $272,008
- Gross Scheduled Income
- $282,120
- Total Monthly Income
- $23,843
- Insurance Expenses
- $10,150
- Water/Sewer/Garbage Expenses
- $23,540
- Gross Rent Multiplier
- 9.75
- Total Expenses
- $107,652
- Cap Rate
- 5.98
- Vacancy Rate
- 5
- Total Number of Units
- 14
- Unit Name
- 120
- Potential Terms
- Cash, Conventional
- Year Built
- 1984
- View
- Territorial
- Roof
- Composition
- Site Features
- Fenced-Partially
- Other Expenses
- 54493
- Energy Source
- Electric
- School District
- Wenatchee
- Elementary School
- Lewis And Clark Elem
- Middle School
- Foothills Mid
- High School
- Wenatchee High
- Total Monthly Income
- $23,843
- Gross Scheduled Income
- $282,120
- Vacancy Rate
- 5
- Gross Adjusted Income
- $272,008
- Tax Year
- 2026
- Insurance Expense
- $10,150
- W/S/G Expenses
- $23,540
- Total Expenses
- $107,652
- Net Operating Income
- $164,356
- Gross Rent Multiplier
- 9.75
- Cap Rate
- 5.98
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.