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Listed by:COMPASS • Erich Bubbel
$ 1,250,000
Est. payment /mo
Active
1029 S Division ST Moses Lake, WA 98837
11 Beds
10 Baths
1,551 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Moses Lake
MLS Listing ID 2480951
Style 56 - 10+ Units
Bedrooms 11
Year Built 1954
Annual Tax Amount $3,796
Lot Size 1,551 Sqft
Property Sub-Type Multi Family
Property Description
1029 South Division St, a renovated 10-unit apartment property in the heart of Moses Lake offered at $1,250,000. The building features desirable tenant amenities like coin-operated laundry and upgraded major systems including copper plumbing and updated electrical, supporting long-term reliability. With 9 of 10 units upgraded and additional upside remaining through completion of the final unit, investors can capture further rent growth while benefiting from strong in-place performance (5.78% current cap vs. 6.41% market cap) and attractive income metrics (10.81 current GRM vs. 8.94 market GRM). Ideally located just 0.3 miles from the Moses Lake waterfront and McCosh Park, the property is positioned to benefit from local momentum, including expansion tied to the region's growing battery manufacturing district.
Location
State WA
County Grant
Area 295 - South Moses Lake
Interior
Flooring Ceramic Tile, See Remarks, Vinyl Plank
Fireplace false
Exterior
Exterior Feature Brick, Cement/Concrete, Wood Products
View Y/N No
Roof Type Flat
Building
Lot Description Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Moses Lake
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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