135 E 1st Avenue, Colville, WA 99114
- $989,000
Listing Broker: Ken Barcus Realty; Alex Matthews; 206-229-2049; alex@guidingmehome.com
- List Price
- $989,000
- Status
- ACTIVE
- MLS#
- 2590989
- Annual Tax Ammount
- 4770
Property Description
Wonderful investment opportunity with this iconic mixed-use masterpiece! Includes 3 total commercial spaces and 4 fully rented residential apartments with a cap rate holding 6% even with under market rents! Recognized for its immense cultural value and iconic period storefront features, this building served for decades as a bustling retail and professional epicenter during Colville's transition into a booming timber, agricultural, and mining hub. Today, it stands upgraded, well maintained, and is ready for its next chapter. Boasting 4 immaculately clean, easy-to-manage apartments that featuring stable, long-term tenants, as well as 3 prime commercial units. The large retail space currently homes RE LEE Shoes which seeks a new owner operator - (Business and inventory for sale separately)
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Additional Information
- Community
- Colville
- Style
- 62 - Business Opp.
- Year Built
- 1909
- Roof
- Flat, See Remarks
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Flooring
- Concrete, Vinyl
- Driving Directions
- Hwy 395 (Main St) go east on 1st. Building on North side of 1st. Plenty of street parking.
- Electric Expenses
- 10299
- Other Expenses
- 194
- Energy Source
- Electric
- Net Operating Income
- $56,944
- Gross Adjusted Income
- $84,000
- Gross Scheduled Income
- $84,000
- Water/Sewer/Garbage Expenses
- $6,093
- Cap Rate
- 6
- Total Expenses
- $27,056
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