- Overview
- Description
- Property Details
- Location
- Facts & Features
- Getting Around
Hot
Street View
$1,400,000
Monthly Est:$6,968
3 Beds
2 Baths
17,754sqft
540 N Madison St, Tekoa, WA 99033
$1,400,000
$6,968/moEst:
Get Pre-Approved
Multi Family
Built in 1982
$-- HOA
3.3 acres lot
$79/sq.ft
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.
- Houzeo last checked: 12 hours ago
- Listing updated: October 9, 2026 at 8:37 pm
- Listing Provided by: Ryan Towner | LT Real Estate (509) 315-8720
- Source: Spokane MLS-WA | MLS#: 202622414
Property Details
Status
Pending
Type
Multi Family
No. of Stories
1
County
City
Neighborhood
--
Year Built
1982
HOA Fees
-
Finished Area
17,754 sqft
Lot Size
3.3 acres lot
Basement Area
- sqft
MLS Name
Spokane MLS
MLS Number
202622414
MLS Status
Pending-Inspection
Days on Market
59
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 3
Bathrooms: 2
Interior
Heating
Forced Air
Construction
Year Built
Year Built: 1982
Home type
Multi Family
Construction Materials
Wood Siding
Roof
Composition
Utilities & Energy
Parking Features
Assigned
Basement
None
Association Amenities
Laundry, Recreational Area, Storage
Price History
| Date | Event | Price |
|---|---|---|
10/09/2026 Source: | Pending | $1,400,000 $79/sqft |
08/11/2026 Source: | Listed for Sale | $1,400,000 $79/sqft |
Getting Around 540 N Madison St
Bike Score®
Somewhat Bikeable
5/100
Walk Score®
Car-Dependent
6/100
Data provided by Redfin
Find Homes by Property Features in Tekoa, WA
Based on information from the Spokane Association of REALTORS® through Oct 09, 2026, 02:31PM. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate. ©2026 Spokane Association of REALTORS®. All Rights Reserved.
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