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For more information on this listing, please contact...
Renaissance Real Estate LLC
253-335-2641
Email
Description
This is a great investment opportunity to get into a growing market with a brand new build. The Moses Lake market is continuing to grow with the addition of new battery plants being constructed in town. This is a new build, four building, 96 unit apartment complex in Moses Lake plus a central clubhouse building. Sixteen 1 bedroom 1 bath, forty-eight 2 bedroom 2 bath and thirty-two 3 bedroom 2 bath units. The property is still under construction with the certificate of occupancy expected September 2024. Owner/Builder is looking to sell now contingent upon completion of construction.
  • Listing #:
    • 2191252
  • Price:
    • $26,000,000
  • Status:
    • Active
  • Type:
    • 10+ Units
  • # of Units:
    • 96
  • # of Acres:
    • 4.13
  • Year Built:
    • 2024
  • Address:
    • 1701 W Crouse Street
  • City:
    • Moses Lake
  • County:
    • Grant
  • State:
    • WA
  • Zip:
    • 98837
  • CDOM:
    • 1
  • Cap Rate:
    • - 5.52
  • Cooling Y/N:
    • - Yes
  • Exterior Features:
    • - Metal/Vinyl
  • :
    • - Sewer Connected
  • Foundation Details:
    • - Slab
  • Gross Scheduled Income:
    • - $2,067,200.00
  • Heating Y/N:
    • - Yes
  • Insurance Expense:
    • - $57,600.00
  • Leasable Area:
    • - 105,808.00 Square Feet
  • Net Operating Income:
    • - $1,538,368.00
  • New Construction Y/N:
    • - Yes
  • Amenities:
    • - Clubhouse
    • - Fire Sprinklers
  • Gross Adjusted Income:
    • - 2035200
  • Gross Rent Multiplier:
    • - 12.58
  • Leased Items:
    • - None
  • New Construction:
    • - Under Construction
  • Parking Uncovered Spaces:
    • - 161
  • Style Code:
    • - 56 - 10+ Units
  • Total Expenses:
    • - 528832
  • Total Monthly Income:
    • - 172267
  • Units Below Grade:
    • - false
  • Vacancy Rate:
    • - 5
  • Water Sewer Garbage:
    • - 48000
  • Zoning Jurisdiction:
    • - City
  • Open Parking Spaces:
    • - 161
  • Open Parking Y/N:
    • - Yes
  • Other Expense:
    • - 336832
  • Parcel Number:
    • - 112102000
  • Property Condition:
    • - Under Construction
  • Stories Total:
    • - 3
  • Structure Type:
    • - Multi Family
  • Annual Tax Amount:
    • - $86,400.00
  • Tax Year:
    • - 2024

For more information on this listing, please contact...
Renaissance Real Estate LLC
253-335-2641
Email

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