About 407 1st Avenue
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.
Features of 407 1st Avenue
| MLS® # | 2461226 |
|---|---|
| Price | $465,000 |
| Acres | 0.23 |
| Year Built | 1950 |
| Type | Commercial Sale |
| Sub-Type | Commercial Industrial |
| Status | Active |
Community Information
| Address | 407 1st Avenue |
|---|---|
| Area | 381 - Adams County |
| Subdivision | Ritzville |
| City | Ritzville |
| County | Adams |
| State | WA |
| Zip Code | 99169 |
Amenities
| Is Waterfront | No |
|---|
Interior
| Heating | Baseboard, Wall Furnace |
|---|---|
| Cooling | Wall Unit(s), Window Unit(s) |
| Fireplace | No |
Exterior
| Exterior Features | Metal/Vinyl, Wood |
|---|---|
| Foundation | Concrete Ribbon |
Additional Information
| Date Listed | December 16th, 2025 |
|---|---|
| Days on Market | 260 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Windermere RE K-2 Realty |
|---|