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Property Details for 227 E Main Ave Soap Lake WA 98851

MLS # : 1257664

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Property Photo MLS #: 1257664
227 E Main Ave Soap Lake WA 98851
Listing Number:   1257664
Listing Price:   $675,000
Number of Units:   16
Lot Size:   15,625 Sq Ft
Total Parking Spaces:   5

Katz Realty, Inc.
509-725-1701
Courtesy:   Windermere R.E. K-2 Realty
-= Complex Details =-
Number of Units:   16
Features:   High Speed Internet, Patio
Vacancy Rate:   92.00

Financial
Electrical Expenses:   $2,978
Water/Sewer/Garbage:   $14,115
Insurance Expenses:   $4,852
Total Expeses:   $26,237
Total Monthly Income:   $9,124
Net Operating Income:   $67,934
Gross Adjusted Income:   $94,171
Gross Scheduled Income:   $102,360
Cap Rate (NOI / Listing Price):   $10.00
Gross Rent Multiplier:   $7.00

Unit Rents
Rent Unit 1:   $675
Rent Unit 2:   $550
Rent Unit 3:   $450
Rent Unit 4:   $625
Rent Unit 5:   $550
Rent Unit 6:   $500
-= Building Details =-
Year Built:   1930
Building Condition:   Fair
Style:   - 10+ Units
Number of Stories:   2
Amenities:   Coin Op Laundry
Roof:   Composition
Exterior:   Stucco
Floor Covering:   Vinyl, Wall to Wall Carpet
Approx. Sq Ft:   11,094
Heating & Cooling:   Baseboard
Leased Items:   Washer/Dryer
-= Unit Details =-
Unit 1
Description Unit 1:   1
Sq Ft Unit 1:   610
Bedrooms Unit 1:   2
Bathrooms Unit 1:   1.00
Range/Oven Unit 1:   Yes

Unit 2
Description Unit 2:   2
Sq Ft Unit 2:   621
Bedrooms Unit 2:   1
Bathrooms Unit 2:   1.00
Range/Oven Unit 2:   Yes

Unit 3
Description Unit 3:   Studio
Sq Ft Unit 3:   375
Bathrooms Unit 3:   1.00
Range/Oven Unit 3:   Yes

Unit 4
Description Unit 4:   4
Sq Ft Unit 4:   482
Bedrooms Unit 4:   1
Bathrooms Unit 4:   1.00
Range/Oven Unit 4:   Yes

Unit 5
Description Unit 5:   5
Sq Ft Unit 5:   494
Bedrooms Unit 5:   1
Bathrooms Unit 5:   1.00
Range/Oven Unit 5:   Yes

Unit 6
Description Unit 6:   6
Sq Ft Unit 6:   475
Bedrooms Unit 6:   1
Bathrooms Unit 6:   1.00
Range/Oven Unit 6:   Yes
-= Site Details =-
Lot Size:   15,625 Sq Ft
Lot Size Source:   County Records
Lot Details:   Curbs, Paved Street, Sidewalk
View:   City, Lake

Utilities
Energy Source:   Electric
Power Company:   Grant County PUD
Sewer Company:   City of Soap Lake
Water Company:   City of Soap Lake
Water Source:   Public

Parking
Number of Uncovered Parking Spaces:   5
Total Number of Parking Spaces:   5
-= Location Information =-
Address:   227 E Main Ave
City:   Soap Lake
State:   WA
Zip Code:   98851
Latitude:   47.38922300
Longitude:   -119.48616900
Driving Directions:   From Highway 17, Soap Lake, turn west on Main Avenue, property on the left.
-= Community Information =-
Community Name:   Soap Lake
School District:   Soap Lake
-= Assessor Information =-
County:   Grant
Tax Number:   080461000
Map Book:   Phoe
General Zoning Classification:   Commercial, Multi-Family
Zoning Jurisdiction:   City
Tax Amount:   $4,292   Tax amount may change after sale.
Tax Year:   2017
-= Purchase Information =-
Listing Price:   $675,000
Potential Terms:   Cash Out, Conventional, Owner Financing
Bank Owned:   No
3rd Party Approval Required:   None
Possession Allowed:   Closing
Seller Disclosure Statement Provided:   Provided
Preliminary Title Ordered:   Yes
-= MLS Listing Details =-
Listing Number:   1257664
Listing Status:   Active
Listing Office:   Windermere R.E. K-2 Realty
Co-listing Office:   Windermere R.E. K-2 Realty
Listing Date:   2018-03-14
Cumulative Days on Market*:   189
MLS Area:   291
Lot Size Source:   County Records
Marketing Remarks:   The Corsican Apartments in downtown Soap Lake! A great opportunity to own income-producing property! 16 rentable units, including 1 studio, 8 1-bedroom units, 4 2-bedroom units, and 3 commercial street side spaces. 17 total beds, 13 total baths. Re-roofed in 2017. Owner financing available.
-= Disclaimer =-
The information contained in this listing has not been verified by Katz Realty, Inc. and should be verified by the buyer.
* Cumulative days on market are days since current listing date.
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