For more information on this listing, please contact...
Renaissance Real Estate LLC
253-335-2641
Email
  • Listing #:
    • 2191252
  • Price:
    • $26,000,000
  • Status:
    • Active
  • Property Type:
    • Multi-Family
  • Type:
    • 10+ Units
  • # of Units:
    • 96
  • # of Acres:
    • 4.13
  • Year Built:
    • 2024
  • Comm/Assn:
    • Moses Lake
  • City:
    • Moses Lake
  • County:
    • Grant
  • State:
    • WA
  • Zip:
    • 98837
  • Right of 1st Refusal:
    • No
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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.
Property Features
  • 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
Nearby Listings
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  • 0 Bedrooms
  • 0.00 Bathrooms
  • 2,390 ft²
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1141 W Cascade Avenue

  • 0 Bedrooms
  • 0.00 Bathrooms
  • 1,702 ft²
0.79 Mi.

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1137 W Cascade Avenue

  • 0 Bedrooms
  • 0.00 Bathrooms
  • 1,702 ft²
For more information on this listing, please contact...
Renaissance Real Estate LLC
253-335-2641
Email

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