Even though Switzerland is situated in a low seismic region, a few damaging earthquakes have occurred in the past. Due to the high population density and high degree of industrialization, Switzerland is considered to have moderate seismic risk. Majority of the existing residential buildings in Switzerland are constructed using unreinforced masonry (URM). This paper presents a detailed performance assessment of a typical 4 story URM residential building located in Switzerland. Performance-based earthquake engineering aims to describe the seismic performance of a structure using metrics that are of immediate use for both engineers and other stakeholders. A practical implementation of performance-based earthquake engineering methodology is used to quantify the seismic performance of a typical URM residential building in Switzerland. A robust finite element model was developed using OpenSees to simulate the nonlinear response of URM walls observed from experimental tests. Major structural and nonstructural components of the building were identified. Damage fragility relations, corresponding repair methods, repair material, and repair cost functions were defined for typical components in URM buildings. A 2D finite element model of the building was developed in OpenSees. Nonlinear dynamic analyses were conducted using the finite element to exam the distribution of the seismic response of the typical URM building in Switzerland. Four seismic hazard levels representing 50%, 10%, 5%, and 2% probability of exceedance in 50 years were selected in this study. The peak structural responses in terms of inter-story drift ratio and floor acceleration were obtained from the time history analyses. The peak structural responses were used with the fragility curves to identify specific damage states for each of the structural and non-structural components in the typical URM building. Once the damage states are identified, the repair cost was calculated based on the associated repair action. The process is repeated a large number of times to simulate the range of structural performance, in terms of total repair cost, over a range of earthquake shaking intensities. The results indicate that the URM building has higher concentration of inelastic deformation in the first story, while the peak floor acceleration increases at higher floors. The performance evaluation shows that the mean annual repair cost for the typical 4 story URM building is about 1,090 CHF. If the building will be replaced after the wall is severely damaged then the mean annual repair cost will goes up to 2,140 CHF.