Property Details

1029 S Division St

Moses Lake, WA 98837

$1,250,000

Available

CBA# 708687 courtesy of CBA Listing firm: COMPASS

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Commercial

Property Type

15,327

Bldg Sq Ft

Units

1972

Year Built

Property Overview

We are pleased to present 1029 South Division St, a renovated 10-unit apartment property in the heart of Moses Lake offered at $1,250,000. The building features desirable tenant amenities like coin-operated laundry and upgraded major systems including copper plumbing and updated electrical, supporting long-term reliability. With 9 of 10 units upgraded and additional upside remaining through completion of the final unit, investors can capture further rent growth—forecasted at +7.37% on renovated rents—while benefiting from strong in-place performance (5.78% current cap vs. 6.41% market cap) and attractive income metrics (10.81 current GRM vs. 8.94 market GRM). Ideally located just 0.3 miles from the Moses Lake waterfront and McCosh Park, the property is positioned to benefit from local mome