20-Unit Apartment
For Sale
Contact for pricing
Pending
116 E Hill Ave, Moses Lake, WA 98837
Multi-family property with updated exterior elements, on-site laundry, storage, and parking on a corner lot.
Property Size14,340 SF
Days on Market232
Property Features for 116 E Hill Ave
General Information
Standard status
Pending
Size
14,340 SF
Total Parking Spaces
20
Property subtype
Multifamily
Zoning
Multi-Family
Net Operating Income
$194,484
Units
Unit Mix
20 x 2BR/1BA
Multifamily Units
20
Amenities
underground sprinklers
parking
laundry area
storage room
Building Details
Year Built
1955
Stories
2
Units
20
Listing Agency:
Nest Realty Company
Listed By:
Blake Rollins · License #23009291
(509) 350-4439
Source:
Crexi
Added: Mar 4
Changed: Oct 8
Last Checked: Oct 20 at 8:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nest Realty Company
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Investment Insights
Based on property information with market context.
This 20-unit apartment property contains 2-bedroom, 1-bath layouts and offers 14,340 square feet of building area. Constructed in 1955, the property has new exterior paint, new windows, underground sprinklers, and parking positioned at both the front and rear. Interior features include a laundry area, storage room, laminate flooring, and flooring upgrades in select units.
Located at 116 E Hill Ave in Moses Lake, the property sits on a large corner lot and is minutes from downtown. Multi-Family zoning supports the existing apartment configuration.
Located at 116 E Hill Ave in Moses Lake, the property sits on a large corner lot and is minutes from downtown. Multi-Family zoning supports the existing apartment configuration.
Key Highlights
- 20 units with 2 bed, 1 bath layouts
- 14,340 square feet of building area
- Multi‑Family zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,609
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,412,180
$2.4M
Cap Rate 7%
$1,722,986
$1.7M
Cap Rate 9%
$1,340,100
$1.3M
Market Conditions
NOI Build-Up for 14,340 SF
Gross rent
$230.6K $16.08/SF
− Vacancy
−$11.3K −$0.79/SF
EGI
$219.3K $15.29/SF
− OpEx
−$98.7K −$6.88/SF
NOI
$120.6K $8.41/SF
Area
Grant County, WA
Vacancy
4.90%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,412,180
Cap Rate 7%
$1,722,986
Cap Rate 9%
$1,340,100
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,609 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.63M
NOI $218,060 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
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Business Placement
Demographics for 98837, WA
46,262
Population
18,651
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
486.2 sq mi
ZIP Area
95
Density / Sq Mi
$70,732
Median Household Income
$44,214
Median Earnings
$1,128
Median Rent
$290,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Multi-family property with updated exterior elements, on-site laundry, storage, and parking on a corner lot.
Where is this apartment building located?
The property is located at 116 E Hill Ave Moses Lake, WA.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: 20 units with 2 bed, 1 bath layouts; 14,340 square feet of building area; Multi‑Family zoning
