Property Details
407 1st Avenue
Ritzville, WA 99169
$449,000
Active
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Property Overview
Investment opportunity in the bustling town of Ritzville! Motel built in 1950 has been mostly remodeled with 8 studio apartments, one 1-bedroom unit with a full kitchen, two 2-bedroom units with a full kitchen, and a remodeled office space. New exterior paint, a coin-op laundry room was added and a brand new roof was installed in 2025. Each studio unit has it's own bathroom, a hot plate, microwave, and a small fridge. There are two studio units that need to be remodeled with the potential for 11 total units of income.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Adams
Neighborhood
Ritzville
Listed
Dec 16, 2025
Original Price
$469,000
Financial Summary
Cap Rate
9.37%
Net Operating Income
$57,508
Gross Scheduled Income
$96,000
Gross Rent Multiplier
4.90
Total Expenses
$22,294
Building & Use
Building Sq Ft
4,004
Leasable Area
4,004 sqft
Total Units
1
Zoning
Commercial,Multi-Family
Possible Use
Commercial, Multi-Family
Lot Size
10,001 sqft
Year Built
1950
Exterior & Lot
Lot Size
0.23 sqft
Year Built
1950
Exterior Materials
Metal/Vinyl, Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Metal/Vinyl, Wood
Location
City
Ritzville
County
Adams
Coordinates
47.12369, -118.38050
Additional Information
Tax Year
2025
Annual Taxes
$3,465
Possession
Array
Based on information submitted to the MLS GRID as of April 14, 2026 6:37 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.
