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Listed by:COMPASS • Erich Bubbel

$1,120,000

Est. payment - /mo

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11 Beds

10 Baths

1,551 Sqft Lot

Active

1029 S Division ST Moses Lake, WA 98837

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Ryan Born

ryan@born-realty.com +1(206) 498-0342

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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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Breakdown

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

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