Listing courtesy of The Paragon Group 509-943-0400
$3,800,000
Located on 4278 Grape Drive NE in Moses Lake, this multifamily asset offers a compelling opportunity for investors seeking scalable upside in a fundamentally strong Eastern Washington market. The property has already been expanded from 36 to 39 units, with preliminary discussions indicating the potential to add as many as… Read More six more units through new construction or adaptive reuse—subject to verification. This density upside, combined with light operational and physical improvements, makes the offering an ideal fit for buyers targeting value creation without heavy lift. The unit mix includes true studios with full kitchens and private bathrooms—an increasingly rare feature in markets where many comparable units are converted motel stock. This functional advantage drives tenant satisfaction, improved retention, and stronger rent performance over time. Further income potential lies in the addition of on-site laundry facilities, with existing hookups already in place, allowing for a quick and cost-effective amenity upgrade. Positioned on the desirable Grape Drive corridor, the property benefits from immediate access to schools, retail, and major employers in a city known for stable occupancy and limited multifamily development. As Moses Lake continues to attract investment in aerospace, agriculture, and manufacturing, this asset is poised to capture both short-term rental growth and long-term appreciation through smart repositioning and potential expansion. Read Less
Listing Snapshot
Cumulative Days On Market
1
Days on Website
1
Last Updated
Property Type
Multi Family
Square Ft.
17,075
Lot Size
3.3 Acres
Year Built
1954
Property Tax
$14,321
MLS Number
2480179
30 Days Snapshot Of 98837
$356k
-12%
(avg) sold price
30
-21%
homes sold
97
-17%
(avg) days on market
Snapshot
Area Map
Source: Home Junction
Additional Details
Building
Building Area Total: 17075, Building Area Units: Square Feet, Calculated Square Footage: 17075, Elevation Units: Feet, Leasable Area: 17075, Living Area: 0, Number Of Units Total: 38, Stories Total: 1, Structure Type: "Multi Family", Units In Building Total: 39, Year Built: 1954
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by John Anderson. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of . 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. Listings last updated on .
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