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
Erich Bubbel
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
Price Information
  • Listing Price$ 1,250,000.0
  • $/SF$ 81.6
  • $/Unit$ 1,250,000.0
  • Listing StatusAvailable
  • Days on Market78
  • Asset ClassMulti-Family
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income0
  • Vacancy Factor %0.00%
  • Operating Expenses0
  • Net Operating Income0
  • CAP Rate 5.78 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Building Information
  • 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 Type
  • Property TypeMulti-Family
  • Office Type
  • InvestmentYes
  • Building ClassC
Location
  • CountyGrant
  • Vicinity
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaGrant County
  • Tax ID #110228000
  • Additional Parcels110225000
  • ZoningR3
Parking Information
  • # Covered Spaces0
  • # Uncovered Spaces30
  • Total Parking Spots30
  • Parking Ratio
Construction
  • Year Built1972
  • Year Renovated
  • Completion Date
  • Roof Type
  • Construction Type

1029 S Division St

Public Comments

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

Listing Images