1029 S Division Street, Moses Lake, WA 98837
- $1,120,000
Listing courtesy of COMPASS.
- List Price
- $1,120,000
- Status
- ACTIVE
- MLS#
- 2480951
- Price Change
- ▼ $130,000 1779418199
- Days on Market
- 162
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Annual Tax Ammount
- 3796
- Lot Size (sq ft)
- 1,551
- Sewer
- Sewer Connected
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.
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Additional Information
- List Date
- 2026-02-16 21:58:11
- Community
- Moses Lake
- Net Operating Income
- $72,188
- Gross Adjusted Income
- $109,898
- Gross Scheduled Income
- $115,682
- Total Monthly Income
- $9,640
- Insurance Expenses
- $3,232
- Water/Sewer/Garbage Expenses
- $14,390
- Gross Rent Multiplier
- 10.81
- Total Expenses
- $37,710
- Cap Rate
- 5.78
- Vacancy Rate
- 5
- Total Number of Units
- 10
- Unit Name
- 1029
- Potential Terms
- Cash, Conventional
- Year Built
- 1954
- Roof
- Flat
- Other Expenses
- 16292
- Energy Source
- Electric
- School District
- Moses Lake
- Total Monthly Income
- $9,640
- Gross Scheduled Income
- $115,682
- Vacancy Rate
- 5
- Gross Adjusted Income
- $109,898
- Tax Year
- 2025
- Insurance Expense
- $3,232
- W/S/G Expenses
- $14,390
- Total Expenses
- $37,710
- Net Operating Income
- $72,188
- Gross Rent Multiplier
- 10.81
- Cap Rate
- 5.78
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.