BEDS3
BATHS2
SQUARE FEET17,754
MLS#202622414
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLTekoa
Property Description
18-Unit Senior Housing Investment Opportunity offering 3.30 acres and 17,754 SF of building space, originally constructed in 1982. The community is 100% project-based Section 8 senior housing with a long-term HUD HAP contract, providing stable, government-backed rental income and predictable cash flow with limited economic vacancy. The property features on-site laundry facilities, a clubhouse, and storage space, with current monthly rental income of $22,188. Offered at $77,778 per unit with a 8.31% cap rate and $116,342 NOI, this is an attractive investment opportunity for buyers seeking stable multifamily income with strong occupancy and long-term affordability program support.
Property Features
Property Type: Multi Unit - Multiple
Basement: None
Roof Type: Composition
Stories: 1.0
Year Built: 1982
Feature Descriptions
Association Amenities: Laundry, Recreational Area, Storage
Days on Site: 10
Exterior: Wood Siding
Heating/Cooling: Forced Air
Parcel#: 117950028000000
Parking: Assigned
SQ. FT. Total: 17754
Local Schools
School District: Tekoa
Listed By / Shown By
Listed By
Agency Name: LT Real Estate
Shown By
Agent Name: Jim Bjorklund
Agent Phone: (509) 939-4607
Agency Title: Coldwell Banker Tomlinson
Estimate Your Payment
Estimated Payment
$ 3,524.13 per month $3,115.79 Principal & Interest $0.00 Property Tax (data not provided by mls) $408.33 Homeowner's InsuranceChange Payment Information
Jim Bjorklund
Cell: (509) 939-4607
Email Me
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540 N Madison St | MLS# 202622414
This multi-family property located at 540 N Madison St, Tekoa, WA 99033 is currently listed for sale with an asking price of $1,400,000. N Madison St is located within the Tekoa school district. Search Tekoa real estate on jbjorklund.cbspokane.com today.