Property Details
1029 S Division Street
Moses Lake, WA 98837
$1,120,000
Active
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Property Overview
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 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 momentum, including expansion tied to the region’s growing battery manufacturing district.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Grant
Neighborhood
Moses Lake
Listed
Feb 16, 2026
Original Price
$1,250,000
Structure Type
Multi Family
Parcel Number
110228000
Tax & HOA
Annual Property Tax
$3,796 (2025)
Est. Monthly Tax
$316/mo
Financial Summary
Cap Rate
5.78%
Net Operating Income
$72,188
Gross Scheduled Income
$115,682
Gross Rent Multiplier
10.81
Total Expenses
$37,710
Vacancy Rate
5.0%
Building & Use
Leasable Area
5,400 sqft
Total Units
10
Zoning
Multi-Family
Possible Use
Multi-Family
Year Built
1954
Exterior & Lot
Lot Size
0.04 sqft
Year Built
1954
Exterior Materials
Brick, Cement, Wood
Sewer
Sewer Connected
Lot Features
Paved, Sidewalk
Exterior Features
Brick, Cement/Concrete, Wood Products
Community & Access
Directions
GPS
Location
City
Moses Lake
County
Grant
Coordinates
47.12048, -119.27397
Additional Information
Tax Year
2025
Annual Taxes
$3,796
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:14 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
