407 W 1st Ave - Hospitality FOR SALE


Ritzville, WA 99169 | 
$465,000 USD
509-989-3309
407 W 1st Ave, Ritzville, WA for Sale
$465,000 USD
Hospitality - FOR SALE
1/11
null | 12.15% Cap Rate

407 W 1st Ave
Ritzville, WA 99169


HIGHLIGHTS

  • Near downtown Ritzville
  • Eastern Washington Hub
  • Remodeled Units

OVERVIEW

Excellent investment opportunity in the growing community of Ritzville! Originally constructed in 1950, this income-producing property has undergone extensive updates and now features 8 studio apartments, 1 one-bedroom unit with a full kitchen, 2 two-bedroom units with full kitchens, and a remodeled office space. Recent improvements include fresh exterior paint, the addition of a coin-operated laundry facility, and a brand-new roof installed in 2025. Each studio unit is equipped with a private bathroom, hot plate, microwave, and compact refrigerator, providing comfortable and efficient living accommodations. Two additional studio units are ready for renovation, offering significant upside potential and the opportunity to increase the property to a total of 11 income-producing units. Whether you're looking to expand your portfolio or enter the multifamily market, this property offers both immediate cash flow and value-add potential.

FOR SALE DETAILS

PRICE

$465,000 USD

PRICE/SF

$116 USD /SF

# OF ROOMS

11

PRICE/ROOM

$42,273 {currency}

CAP RATE

12.15%

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westside Motor Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

C-2

APN/PARCEL ID

1935230502401

ASK ABOUT THIS PROPERTY

Jay KincaidWindermere Real Estate K-2 RealtyMore Info
509-989-3309

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Jay KincaidWindermere Real Estate K-2 RealtyMore Info
509-989-3309

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