Courtesy: Windermere RE K-2 Realty
509-765-3337
Jay Kincaid
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.
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Ritzville is located in Washington. Ritzville, Washington has a population of 1,840. Ritzville is less family-centric than the surrounding county with 30.44% of the households containing married families with children. The county average for households married with children is 34.53%.
The median household income in Ritzville, Washington is $49,438. The median household income for the surrounding county is $54,573 compared to the national median of $69,021. The median age of people living in Ritzville is 42.6 years.
The average high temperature in July is 86 degrees, with an average low temperature in January of 23.6 degrees. The average rainfall is approximately 12.1 inches per year, with 19.6 inches of snow per year.
