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Sooper Dooper Guy | Robert Davis's Site

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407 1st Ave , Ritzville, WA 99169
$465,000
Est. Payment: $1,033.33/mo
0.23 Acres
Status: Active | Days on site: 260
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9633 - 84629
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House Description

Excellent investment opportunity in the growing community of Ritzville! Originally constructed in 1950, this income-producing property has undergone extensive updates and now features 8 studio apartments, 1 one-bedroom unit with a full kitchen, 2 two-bedroom units with full kitchens, and a remodeled office space. Recent improvements include fresh exterior paint, the addition of a coin-operated laundry facility, and a brand-new roof installed in 2025. Each studio unit is equipped with a private bathroom, hot plate, microwave, and compact refrigerator, providing comfortable and efficient living accommodations. Two additional studio units are ready for renovation, offering significant upside potential and the opportunity to increase the property to a total of 11 income-producing units. Whether you're looking to expand your portfolio or enter the multifamily market, this property offers both immediate cash flow and value-add potential.

Highlights

Listed by Jay P. Kincaid , 509-989-3309 Windermere RE K-2 Realty , 509-765-3337.

Property Type

Commercial Sale

Lot/Acreage
0.23

Year Built

1950

County

Adams

Area

381 - Adams County

Neighborhood

Ritzville

Listing ID

2461226

Questions about this listing?

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Interior Features

Air Cond:Wall Unit(s),Window Unit(s)
Fireplaces:
Floor:Laminate,Vinyl,Carpet
Water:City of Ritzville

Exterior Features

Lot:Zoning: Commercial,Multi-Family
Zoning:Commercial,Multi-Family
Roof:Composition
Others:
  • ▪ Additional:Metal/Vinyl, Wood, Fair
Sewer:City of Ritzville
Principal Interest
$1,033
Taxes
$289

Home Price

$465,000

Loan Details

30 yrs
%

Down Payment

20%
$93,000
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Monthly Price:
$1,033.33

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,033.33 $288.75 $0.00 $1,322.08
Yearly $12,400.00 $3,465.00 $0.00 $15,865.00
Total $372,000.00 $103,950.00 $0.00 $475,950.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Ritzville, WA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.