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.
Tekoa is located in Washington. Tekoa, Washington has a population of 742. Tekoa is less family-centric than the surrounding county with 23.6% of the households containing married families with children. The county average for households married with children is 31.52%.
The median household income in Tekoa, Washington is $48,214. The median household income for the surrounding county is $43,613 compared to the national median of $69,021. The median age of people living in Tekoa is 50.6 years.
The average high temperature in July is 82.2 degrees, with an average low temperature in January of 23.8 degrees. The average rainfall is approximately 20.1 inches per year, with 33.8 inches of snow per year.
