540 N Madison St - Apartments FOR SALE


Tekoa, WA 99033
$1,400,000 USD
509-481-0373
540 N Madison St, Tekoa, WA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/22
null | 8.31% Cap Rate

540 N Madison St
Tekoa, WA 99033


HIGHLIGHTS

  • Option 1a Project Based Section 8 designated for Seniors
  • Within 1 hour to Spokane and Pullman
  • Attractive Risk Adjusted Returns

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.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$79 USD /SF

# OF UNITS

18

PRICE/UNIT

$77,778

CAP RATE

8.31%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

PARKING SPACES

30

LAND DETAILS

LAND ACRES

3.3 AC

LAND SF

143,748 SF

ZONING

Commercial

APN/PARCEL ID

117950026000001,117950026000002,117950028000000

ASK ABOUT THIS PROPERTY

Ryan TownerLT Real EstateMore Info
509-481-0373

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Ryan TownerLT Real EstateMore Info
509-481-0373

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