Property Details

17809 120th Avenue SE
Yelm, WA 98597
$825,000
MLS# 2519652 courtesy of NWMLS Listing firm: RE/MAX Country

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17809 120th Avenue SE, Yelm, WA 98597, Yelm

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17809 120th Avenue SE, Yelm, WA 98597, Yelm

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Multi-Family
Property Type
6,052
Bldg Sq Ft
7
Units
6.20%
Cap Rate
1962
Year Built

Property Overview

Attention investors! Incredible opportunity to own a well-established income-producing multi-family property with tremendous upside potential. Situated on nearly 5 usable acres, this unique property features three total residential buildings, including a one 4-plex, one duplex, and a separate 2-bedroom, 1-bath single-family home. With a strong rental history and long-term tenancy in place, this property offers immediate cash flow along with future income-growth opportunities. All units are single-story, a highly desirable feature for tenants that also helps simplify maintenance and long-term management. The expansive acreage provides additional possibilities for future improvements, including the potential to add tenant storage units or other income-producing amenities, subject to buyer verification. Located at the end of a quiet cul-de-sac, the property offers a peaceful and private setting while still being conveniently close to everyday amenities. Just minutes from town and approximately 20 minutes to the East Gate of JBLM, this location is ideal for attracting and retaining tenants seeking both convenience and privacy. Whether you are looking to expand your investment portfolio or secure a property with long-term upside and stable occupancy, this rare multi-family opportunity checks all the boxes.

Property Details

Property Information

Property Type Residential Income
Subtype Multi Family
Status Active
County Thurston
Neighborhood Vail
Listed May 19, 2026

Financial Summary

Cap Rate 6.20%
Net Operating Income $51,000
Gross Scheduled Income $50,644
Gross Rent Multiplier 16.18
Total Expenses $15,736

Building & Use

Building Sq Ft 6,052
Leasable Area 6,052 sqft
Total Units 7
Zoning Multi-Family
Possible Use Multi-Family
Lot Size 4.43 acres
Year Built 1962

Exterior & Lot

Lot Size 4.43 sqft
Year Built 1962
Exterior Materials Wood
Parking RV Parking
Sewer Septic Tank
Water Source Individual Well
Lot Features Dead End Street, Paved, Secluded
Exterior Features Wood

Location

City Yelm
County Thurston
Coordinates 46.90987, -122.56232

Additional Information

Tax Year 2026
Annual Taxes $4,719
Possession Array
Listed By
Cynthia Schmier
RE/MAX Country

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