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Raymond Gravelle

Realty Executives Grant County
Moses Lake, WA 98837

509-771-0027 
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Listing 23 out of 24
$671,000 For Sale

227 E Main Ave
Soap Lake, WA 98851

16 units | Multi Family Home
15625 sq ft lot - MLS# 1257664 Courtesy of Windermere R.E. K-2 Realty
Property Photo
1/13

Description

The Corsican Apartments in downtown Soap Lake! A great opportunity to own income-producing property! 16 rentable units, including 1 studio, 8 1-bedroom units, 4 2-bedroom units, and 3 commercial street side spaces. 17 total beds, 13 total baths. Re-roofed in 2017. Owner financing available. Agents for buyers must be present for all visitations to the property. Call the listing broker for details.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Grant County
  • Zip Code: 98851
  • Year Built: 1930
  • School District: Soap Lake
  • Sq.Ft.: 11,094 sq ft
  • Units: 16 units
  • # of Parking Spaces: 5
  • Lot Size: 15625 sq ft lot
  • View: City, Lake
  • Area: Soap Lake
  • Amenities: Coin Op Laundry
  • Area Number: 291
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 2
  • Bedrooms Unit 2: 1
  • Bedrooms Unit 4: 1
  • Bedrooms Unit 5: 1
  • Bedrooms Unit 6: 1
  • Building Condition: Fair
  • Cap Rate - NOI div LP: 8.00
  • Electrical Expenses: $2692
  • Energy Source(heat): Electric
  • Exterior: Stucco
  • Floor Covering: Vinyl, Wall to Wall Carpet
  • General Zoning Class: Commercial, Multi-Family
  • Gross Adjusted Income: $80968
  • Gross Rent Multiplier: $7
  • Gross Scheduled Income: $107220
  • Heating/Cooling: Baseboard
  • Insurance Expenses: $3498
  • Leased Items: Washer/Dryer
  • Lot Details: Curbs, Paved Street, Sidewalk
  • Net Operating Income: $56277
  • Number of Stories in Building: 2
  • Number of Uncovered Spaces: 5
  • Other Expenses: $485
  • Power Company: Grant County Pud
  • Rent Unit 1: $725
  • Rent Unit 2: $550
  • Rent Unit 3: $450
  • Rent Unit 4: $625
  • Rent Unit 5: $645
  • Rent Unit 6: $595
  • Roof: Composition
  • Sewer Company: City Of Soap Lake
  • Site Features: High Speed Internet, Patio
  • Square Feet Unit 1: 610
  • Square Feet Unit 2: 621
  • Square Feet Unit 3: 375
  • Square Feet Unit 4: 482
  • Square Feet Unit 5: 494
  • Square Feet Unit 6: 475
  • Total Expenses: $24691, $24691
  • Total Monthly Income: $9604
  • Vacancy Rate: 24
  • Water Company: City Of Soap Lake
  • Water Source: Public
  • Water/Sewer/Garbage: 14666
Courtesy of Windermere R.E. K-2 Realty
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than Realty Executives Grant County are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-06-25

Terms of Usage Agreement

Raymond Gravelle, Realtor®
Realty Executives Grant County
8420 Aspi Blvd suite #5
Moses Lake, WA 98837
Phone: 509-771-0027
Email: raymond@grantcountyproperties.com

Testimonials

My wife and I greatly appreciated the level of service we received from Raymond and his team. We did a remote-purchase (3 hour drive away) and they were proactively communicative and handled all our requests perfectly. Highly recommend working with them if you're looking to buy anywhere in the  Grant County area. dschlick
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