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New Duplexes in Moses Lake

504 S Alder Street Moses Lake, WA 98837

504 S Alder Street, Moses Lake, WA, 98837

$825,000

For Sale

$825,000

Two newly built duplexes with an 8-year tax exemption.

Property Size3,870 SF

Price / SF$213.18

AddedAug 8, 2025

Days on Market343

Last RefreshJul 15 at 9:03 pm

Property Features for 504 S Alder Street

General Information

Standard status: Active
Size: 3,870 SF
Property subtype: Multi-Family

Building Details

Year Built: 2024

Listing office Richmond

Listing date Aug 8, 2025

Source Kw

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 Richmond

Investment Insights

Based on property information with market context.

This property presents a prime investment opportunity with two newly built duplexes constructed in 2024, located in central Moses Lake. The property benefits from an 8-year tax exemption. Each identical unit features 3 bedrooms and 1 bathroom, designed for comfort, efficiency, and long-term durability. Interior features include concrete floors, 9-foot ceilings, stainless steel appliances, and in-unit washer and dryer. Each unit is equipped with central heating and air conditioning, and utilities are individually metered. The property provides two parking spaces per unit, large secure mailboxes, and drought-tolerant landscaping with an irrigation system. The location is minutes from the police department, Surf 'n Slide Water Park, shops, and dining. Three of the four units are currently leased, with one unit available, making it ideal for an owner-occupant looking to live on-site while generating rental income. The total property size is 3870 square feet.

Key Highlights

Two newly built (2024) duplexes offering a prime investment opportunity.
Enjoy significantly reduced ownership costs with an 8‑year tax exemption.
Three of four units are currently leased, providing immediate rental income.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$52.9k	$13.67
− Vacancy	−$4.5k	−$1.16
EGI	$48.4k	$12.51
− OpEx	−$14.5k	−$3.75
NOI	$33.9k	$8.76

3,870 SF · lease $13.67/SF/yr · vacancy 8.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$484.1K

$423.6K – $564.7K (±1% cap)

NOI $33,884 @ 7.0% cap · market cap 4.11%

Second Best

Apartment 5plus

$465.0K

$406.9K – $542.5K (±1% cap)

NOI $32,549 @ 7.0% cap · market cap 3.95%

Theoretical Best

Office A

$840.7K

$735.6K – $980.8K (±1% cap)

NOI $58,849 @ 7.0% cap · market cap 7.13%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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Suggested Use

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For sale
Duplexes
WA
Moses Lake
98837
504 S Alder Street Moses

What type of property is this?

Duplex - Two newly built duplexes with an 8-year tax exemption.

Where is this duplex located?

The property is located at 504 S Alder Street Moses Lake, WA.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: Two newly built (2024) duplexes offering a prime investment opportunity.; Enjoy significantly reduced ownership costs with an 8‑year tax exemption.; Three of four units are currently leased, providing immediate rental income.