Studio Units Investment
For Sale
$969,000
Pending
68 Hwy 28, Soap Lake, WA 98851
Investment opportunity featuring 14 studio units with rental storage.
Property SizeContact for details
Days on Market141
Property Features for 68 Hwy 28
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
1947
Listing Agency:
WINDERMERE K-2 REALTY, LLC
(509) 989-3309
Listed By:
JAY KINCAID
Source:
Corcoran
Added: Mar 25
Changed: Aug 8
Last Checked: Jul 23 at 7:11AM
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 WINDERMERE K-2 REALTY, LLC
Investment Insights
Based on property information with market context.
Located between Ephrata and Soap Lake, this investment opportunity features 14 studio units renting between $700 and $875 per month. An additional rental storage space generates $200 per month. The exterior of the property was repainted in 2025. Tenants benefit from included utilities: water, garbage, and power. Soap Lake, situated along the southern shore of its namesake lake, is a tourist destination known for its mineral-rich waters and reputed healing properties. The influx of visitors and long-term residents supports rental demand in the area.
Key Highlights
- Strong rental income from 14 studio units and additional storage space.
- All utilities included in rent, increasing tenant appeal.
- Located in Soap Lake, a tourist destination known for mineral‑rich waters.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 98851, WA
4,472
Population
2,078
Households
2.2
Avg Household Size
46
Median Age
15%
College-Educated
86%
High-School Grad
146.1 sq mi
ZIP Area
31
Density / Sq Mi
$67,009
Median Household Income
$35,124
Median Earnings
$902
Median Rent
$240,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Investment opportunity featuring 14 studio units with rental storage.
Where is this apartment building located?
The property is located at 68 Hwy 28 Soap Lake, WA.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: Strong rental income from 14 studio units and additional storage space.; All utilities included in rent, increasing tenant appeal.; Located in Soap Lake, a tourist destination known for mineral‑rich waters.
