540 N Madison St, Tekoa, WA 99033
540 N Madison St, Tekoa, WA 99033
540 N Madison St, Tekoa, WA 99033
540 N Madison St, Tekoa, WA 99033
540 N Madison St, Tekoa, WA 99033
540 N Madison St, Tekoa, WA 99033
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Rachel Krouse

Rachel Krouse

+1(509) 981-1881
Listed by Ryan Towner • LT Real Estate
$ 1,400,000
Est. payment | /mo

17,754 SqFt

Save
$ 1,400,000
Est. payment | /mo
Save

17,754 SqFt

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 Locations

Rachel Krouse

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(509) 981-1881

rachel@krousehouserealty.com

Amplify- 1311 N Washington Ste A, Spokane, Washington 99201, USA

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540 N Madison St