540 N Madison St, Tekoa, WA 99033
- $1,400,000
- 17,754
- SqFt
- List Price
- $1,400,000
- MLS#
- 202622414
- Property Sub-Type
- Residential Income
- Current MLS Listing Sale Status
- Active
- Financing Terms
- Conventional, Cash, Commercial
- City
- Tekoa
- Acres
- 3.30
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.
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Additional Information
- Year Built
- 1982
- MLS Area/Grid
- OS Cnty S/Whtmn SW I-90
- MLS Area/Grid Number
- A923/106
- Parcel Number
- 117950028000000
- School District
- Tekoa
- Home Amenities
- Laundry, Recreational Area, Storage
- Home Total Sq Ft
- 17,754
- Basement
- None
- Heating/Cooling
- Forced Air
- Roof Style
- Composition
- Frontage
- City Street, Paved Road
- Acres MOL
- 3.3
- Lot Size
- 143,748
- Property Sub-Type
- Residential Income
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Listing courtesy of SARMLS / LT Real Estate
Listings last updated . All information provided is deemed reliable but is not guaranteed and should be independently verified.