$1,400,000
Joey Costello
Windermere North Spokane
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Make a winning offer with the help of a local expert
About This Home
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 Details
Property Type
Residential Income
Year Built
1982
County
Whitman
Lot Size
3.3 acres
Living Area
17,754 sqft
Price / Sqft
$79
Schools
Elementary: Tekoa
Days on Market
38 days
MLS #
SAR202622414
Parcel #
117950028000000
Total Building Area
17,754 sqft
MLS Area
A923/106
MLS Class
Rental Income
Listing Terms
Conventional, Cash, Commercial
Road Frontage
City Street, Paved Road
Street Direction
N
Listed On
Aug 11, 2026
Status Changed
Aug 18, 2026
Last MLS Update
Aug 28, 2026
MLS Branch
1041
School Information
Elementary
Tekoa
Home Features & Details
Construction
Structure Type
Roof
Basement
Heating
Parking
Listed By
Ryan Towner
LT Real Estate
Joey Costello
Windermere North Spokane
Tour for free, no strings attached
Make a winning offer with the help of a local expert
Estimated Monthly Payment
$7,583/mo
Estimated at 6.5% APR, 30-year fixed. For informational purposes only.
Property Highlights
Location
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