- Listing #:
- 2270593
- 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
QR Code
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