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Property Details for 68 W Hwy 28 Soap Lake WA 98851

MLS # : 364475

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Property Photo MLS #: 364475
68 W Hwy 28 Soap Lake WA 98851
Listing Number:   364475
Listing Price:   $699,000
Number of Units:   14
Lot Size:   37,500 Sq Ft
Total Parking Spaces:   20

Katz Realty, Inc.
509-725-1701
Courtesy:   Windermere R.E. K-2 Realty
-= Complex Details =-
Number of Units:   14
Features:   Cable TV, High Speed Internet, Outbuildings, RV Parking, Shop
Vacancy Rate:   7.00

Financial
Electrical Expenses:   $6,360
Water/Sewer/Garbage:   $2,196
Heating Expenses:   $300
Insurance Expenses:   $2,060
Other Expenses:   $3,420
Total Expeses:   $17,115
Total Monthly Income:   $6,575
Net Operating Income:   $62,121
Gross Adjusted Income:   $79,236
Gross Scheduled Income:   $85,200
Cap Rate (NOI / Listing Price):   $8.89
Gross Rent Multiplier:   $8.00

Unit Rents
Rent Unit 1:   $500
Rent Unit 2:   $500
Rent Unit 3:   $500
Rent Unit 4:   $500
Rent Unit 5:   $500
Rent Unit 6:   $475
-= Building Details =-
Year Built:   1970
Style:   - 10+ Units
Number of Stories:   1
Roof:   Composition
Exterior:   Wood Products
Floor Covering:   Vinyl, Wall to Wall Carpet
Foundation:   Poured Concrete
Approx. Sq Ft:   4,200
Heating & Cooling:   Baseboard, Wall
Leased Items:   None
-= Unit Details =-
Unit 1
Description Unit 1:   1
Sq Ft Unit 1:   250
Bathrooms Unit 1:   1.00
Range/Oven Unit 1:   Yes

Unit 2
Description Unit 2:   2
Sq Ft Unit 2:   250
Bathrooms Unit 2:   1.00
Range/Oven Unit 2:   Yes

Unit 3
Description Unit 3:   3
Sq Ft Unit 3:   250
Bathrooms Unit 3:   1.00
Range/Oven Unit 3:   Yes

Unit 4
Description Unit 4:   4
Sq Ft Unit 4:   250
Bathrooms Unit 4:   1.00
Range/Oven Unit 4:   Yes

Unit 5
Description Unit 5:   5
Sq Ft Unit 5:   250
Bathrooms Unit 5:   1.00
Range/Oven Unit 5:   Yes

Unit 6
Description Unit 6:   6
Sq Ft Unit 6:   250
Bathrooms Unit 6:   1.00
Range/Oven Unit 6:   Yes
-= Site Details =-
Lot Size:   37,500 Sq Ft
Lot Dimensions:   250x150
Lot Details:   Paved Street

Utilities
Energy Source:   Electric, Oil
Power Company:   Grant County PUD
Sewer Company:   Septic
Water Company:   Lakeview Park

Parking
Number of Uncovered Parking Spaces:   20
Total Number of Parking Spaces:   20
-= Location Information =-
Address:   68 W Hwy 28
City:   Soap Lake
State:   WA
Zip Code:   98851
Latitude:   47.37516600
Longitude:   -119.49207500
Driving Directions:   West on Hwy 28 from Soap Lake about 2/3 mile on the north side of the road.
-= Community Information =-
Community Name:   Soap Lake
Subdivision:   Lakeview Park
School District:   Soap Lake
-= Assessor Information =-
County:   Grant
Tax Number:   081202000
Lot Number:   6 & 7 and NE 50ft of 8
Block Number:   8
Map Book:   Phoe
Mapbook Page:   21
Mapbook X Coordinates:   14
Mapbook Y Coordinates:   Q
General Zoning Classification:   Commercial
Tax Amount:   $2,779   Tax amount may change after sale.
Tax Year:   2017
-= Purchase Information =-
Listing Price:   $699,000
Potential Terms:   Cash Out, Conventional
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:   364475
Listing Status:   Active
Listing Office:   Windermere R.E. K-2 Realty
Listing Date:   2012-06-01
Cumulative Days on Market*:   2330
Original Listing Price:   $499,000
MLS Area:   291
Marketing Remarks:   14 unit apartment complex completely rebuilt in the last 4 years, including new windows, doors, siding, paint and carpets. Mostly new appliances. All units are now completely renovated...only one vacancy as of June 2017.
-= 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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