Property Details

540 N Madison St

Tekoa, WA 99033

$1,400,000

Available

CBA# 716279 courtesy of CBA Listing firm: LT Real Estate

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Commercial

Property Type

17,754

Bldg Sq Ft

Units

8.00%

Cap Rate

1982

Year Built

Property Overview

18-Unit Senior Housing Investment Opportunity offering 3.30 acres and 17,754 SF of building space, originally constructed in 1982. The community is 100% project-based Section 8 senior housing with a long-term HUD HAP contract, providing stable, government-backed rental income and predictable cash flow with limited economic vacancy. The property features on-site laundry facilities, a clubhouse, and storage space, with current monthly rental income of $22,188. Offered at $77,778 per unit with a 8.31% cap rate and $116,342 NOI, this is an attractive investment opportunity for buyers seeking stable multifamily income with strong occupancy and long-term affordability program support.