1006 W 3rd Ave - Apartments FOR SALE


Moses Lake, WA 98837
$2,350,000 USD
509-410-1990
1006 W 3rd Ave, Moses Lake, WA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/13
null | 9.79% Cap Rate

1006 W 3rd Ave
Moses Lake, WA 98837


HIGHLIGHTS

  • Naturally affordable workforce housing
  • Redevelopment & reconfiguration upside
  • Operational value-add potential
  • Strategic position in a growing market

OVERVIEW

Studio City Apartments offers investors an accessible entry point into the stable and increasingly competitive Moses Lake multifamily market. With its mix of compact units and simple layouts, the property caters directly to the city’s substantial base of service, industrial, and transitional workforce tenants. A naturally affordable asset, it fills a critical gap in a market where much of the new housing supply skews toward higher-end units. Moses Lake is undergoing a notable economic resurgence, supported by strategic public and private investment. Employers like Microsoft, REC Silicon, and Sila Nanotechnologies are bringing high-skill jobs and capital investment to the region. This expansion is driving demand across the housing spectrum and positioning Moses Lake as a key tertiary market in Eastern Washington. Investors are increasingly turning to the city for its combination of job growth, infrastructure, and quality of life, all at a fraction of the cost of larger metros. Studio City is well-located within Moses Lake’s urban grid, providing immediate access to downtown services, schools, and major arterials. With proven occupancy, upside through management improvement, and the potential for long-term site enhancements, the property presents a compelling opportunity for investors seeking durable returns in an emerging growth market.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$53 USD /SF

# OF UNITS

45

PRICE/UNIT

$52,222

CAP RATE

9.79%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Studio City Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

General Commercial

APN/PARCEL ID

110593000

ASK ABOUT THIS PROPERTY

Mason FiasconeMultifamily MasonMore Info
509-410-1990

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Mason FiasconeMultifamily MasonMore Info
509-410-1990

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.