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Gray Lake & Gray Lake Manor Apartments

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Gray Lake & Gray Lake Manor Apartments

1029 S Division St, Moses Lake, WA 98837
Multi-Family For Sale Available Built 1972 2 floors Zoning: R3
Asking Price
$1,250,000
Total Building15,327 SF
Land15,545 SF land
Parking Total30
& Uncov.
MarketGrant County
CountyGrant

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Overview

Property ID
161445
Listing ID
708687
Type
Multi-Family
Asset Class
Multi-Family
Zoning
R3

Description

We are pleased to present 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—forecasted at +7.37% on renovated rents—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 mome

Documents

Listing Courtesy of:

EB
Erich Bubbel
COMPASS
700 110th Ave NE Ste 270,
Bellevue, WA 98004
State: WA City: Moses Lake ZIP: 98837 Type: For Sale

Commercial Listings
Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.