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Listed by Ryan Towner • LT Real Estate
$ 1,400,000
Est. payment /mo
New
540 N Madison St Tekoa, WA 99033
17,754 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Residential Income
Listing Status Active
Purchase Type For Sale
Square Footage 17,754 sqft
Price per Sqft $78
MLS Listing ID 202622414
Year Built 1982
Lot Size 3.300 Acres
Lot Dimensions 3.3
Property Sub-Type Residential Income
Property Description
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.
Location
State WA
County Whitman
Rooms
Basement None
Interior
Heating Forced Air
Exterior
Parking Features Assigned
Amenities Available Laundry, Recreational Area, Storage
View Y/N true
Roof Type Composition
Building
Story 1
Structure Type Wood Siding
Schools
School District Tekoa
Others
Acceptable Financing Conventional, Cash, Commercial
Listing Terms Conventional, Cash, Commercial
NEARBY SCHOOLS & PROPERTIES
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