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Listed by:The Paragon Group • Mason Fiascone
$ 3,800,000
Est. payment /mo
Active
4278 Grape DR NE Moses Lake, WA 98837
22 Beds
38 Baths
17,075 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,075 sqft
Price per Sqft $222
Subdivision Larson
MLS Listing ID 2480179
Style 56 - 10+ Units
Bedrooms 22
Year Built 1954
Annual Tax Amount $14,321
Lot Size 3.300 Acres
Property Sub-Type Multi Family
Property Description
Located on 4278 Grape Drive NE in Moses Lake, this multifamily asset offers a compelling opportunity for investors seeking scalable upside in a fundamentally strong Eastern Washington market. The property has already been expanded from 36 to 39 units, with preliminary discussions indicating the potential to add as many as six more units through new construction or adaptive reuse—subject to verification. This density upside, combined with light operational and physical improvements, makes the offering an ideal fit for buyers targeting value creation without heavy lift. The unit mix includes true studios with full kitchens and private bathrooms—an increasingly rare feature in markets where many comparable units are converted motel stock. This functional advantage drives tenant satisfaction, improved retention, and stronger rent performance over time. Further income potential lies in the addition of on-site laundry facilities, with existing hookups already in place, allowing for a quick and cost-effective amenity upgrade. Positioned on the desirable Grape Drive corridor, the property benefits from immediate access to schools, retail, and major employers in a city known for stable occupancy and limited multifamily development. As Moses Lake continues to attract investment in aerospace, agriculture, and manufacturing, this asset is poised to capture both short-term rental growth and long-term appreciation through smart repositioning and potential expansion.
Location
State WA
County Grant
Area 298 - North Moses Lake
Interior
Fireplace false
Exterior
Exterior Feature Cement/Concrete
View Y/N No
Roof Type Composition,Flat
Building
Sewer Available
Water Community
New Construction No
Schools
Elementary Schools Longview Elem
Middle Schools Chief Moses Mid
High Schools Moses Lake High
School District Moses Lake
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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