1029 S Division St
Moses Lake WA 98837
Gray Lake & Gray Lake Manor Apartments
1029 S Division St Moses Lake WA 98837
Listing #: 708687 | Status: Available | Last Modified: 4/14/2026 |
For Sale
- Phone:(206) 399-3285
- Email:erich.bubbel@compass.com
- Office Name:COMPASS
- Office Phone:(425) 217-0609
- Office Website:www.compass.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,250,000.0
- $/SF$ 81.6
- $/Unit$ 1,250,000.0
- Listing StatusAvailable
- Days on Market78
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income0
- Vacancy Factor %0.00%
- Operating Expenses0
- Net Operating Income0
- CAP Rate 5.78 %
- 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
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units30
- # of Elevators0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF15327
- Net Rentable Area15327
- Total Office SF
- Largest Contiguous SF
- Lot SF15545
- Acres0.36
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building ClassC
- CountyGrant
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaGrant County
- Tax ID #110228000
- Additional Parcels110225000
- ZoningR3
- # Covered Spaces0
- # Uncovered Spaces30
- Total Parking Spots30
- Parking Ratio
- Year Built1972
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
1029 S Division St
We are pleased to present 1029 South Division St, a renovated 10-unit apartment property in the heart of Moses Lake offered at $1,250,000. The building features desirable tenant amenities like coin-operated laundry and upgraded major systems including copper plumbing and updated electrical, supporting long-term reliability. With 9 of 10 units upgraded and additional upside remaining through completion of the final unit, investors can capture further rent growth—forecasted at +7.37% on renovated rents—while benefiting from strong in-place performance (5.78% current cap vs. 6.41% market cap) and attractive income metrics (10.81 current GRM vs. 8.94 market GRM). Ideally located just 0.3 miles from the Moses Lake waterfront and McCosh Park, the property is positioned to benefit from local mome









