4278 Grape Dr NE
Moses Lake WA 98837
Cottonwood Flats
4278 Grape Dr NE Moses Lake WA 98837
Listing #: 707206 | Status: Available | Last Modified: 4/10/2026 |
For Sale
- Phone:(509) 410-1990
- Email:mason@multifamilymason.com
- Office Name:The Paragon Group
- Office Phone:(509) 943-0400
- Office Website:www.paragongroupwa.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,800,000.0
- $/SF$ 500.0
- $/Unit$ 3,800,000.0
- Listing StatusAvailable
- Days on Market96
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income324,050
- Vacancy Factor %0.49%
- Operating Expenses125,203
- Net Operating Income197,249
- CAP Rate 5.23 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.23 %
- Building StatusExisting
- # of Buildings4
- # of Floors1
- # of Units39
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF17075
- Net Rentable Area7600
- Total Office SF
- Largest Contiguous SF
- Lot SF143748
- Acres3.3
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyGrant
- Vicinity
- Location Description
- Second Address
- Cross StreetHighway 17
- Market AreaGrant County
- Tax ID #110349005
- Additional Parcels110000025, 110000030, 120304000, 120305000, 120306000, 120307000, 120308000
- ZoningR2
- Year Built1955
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Cottonwood Flats
Located on 4278 Grape Drive NE in Moses Lake, this multifamily asset offers a compelling opportunity for investors seeking scalable upside in a fundamentally strong Eastern Washington market. The property has already been expanded from 36 to 39 units, with preliminary discussions indicating the potential to add as many as six more units through new construction or adaptive reuse—subject to verification. This density upside, combined with light operational and physical improvements, makes the offering an ideal fit for buyers targeting value creation without heavy lift.
