340 Grand Ave Pullman, WA 99163
- Apartment buildings
- 0.30 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 340 Grand Ave
- Lot size
- 0.30 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents two adjacent apartment buildings located in the heart of Pullman, Washington, at 340 S Grand Ave and 220 SE Gladstone St. The portfolio comprises 11 units totaling 8,400 net rentable square feet across two buildings constructed in 1930 and 1928. Currently boasting 100% occupancy, the property offers significant value-add potential. The buildings sit on a combined 0.301 acres and are zoned C3 and R4, allowing for diverse development options. Ten off-street parking spaces are available. The property features a mix of one, two, and three-bedroom units, averaging 764 square feet, appealing to a wide range of tenants. Desirable amenities include private balconies/patios (at 220 SE Gladstone St) and a detached three-car garage at 340 S Grand Ave, providing additional income potential. The strategic location near Washington State University ensures consistent rental demand, making this a strong income-generating asset with potential for increased returns through optimized management strategies. The asking price is $1,600,000, representing a price per unit of $145,454.55. This is a rare opportunity to acquire a well-positioned multifamily portfolio in a thriving college town.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pullman
- County
- Whitman
- State
- Washington
- Longitude
- -117.184
- Latitude
- 46.7278
