Listing provided courtesy of Windermere RE K-2 RealtyNWMLSas Distributed by MLSGrid- MLS# NWM2495457
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Request Info68 W State Highway 28Soap Lake, WA 98851
Multi-Family · 6,192 Sq. ft. | 0.69 Acres$969,000
Pending
68 W State Highway 28 Overview
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Located between Ephrata and Soap Lake, this exceptional investment opportunity features 14 studio units between $700-$875 per month, along with an additional rental storage space generating $200 per month. Exterior of the property was repainted in 2025. Tenants enjoy the convenience of all utilities included—water, garbage, and power—making these units highly attractive and easy to maintain. Soap Lake is situated along the southern shore of its namesake lake, and has long been known as a tourist destination, drawing visitors for its unique, mineral-rich waters and their reputed healing properties. This steady influx of visitors and long-term residents alike supports strong rental demand in the area.
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68 W State Highway 28 Facts & Features
- Type Multi-Family
- Sq. ft. 6,192
- Price/Sq.ft. $156
- Lot 0.69 Acres
Details
General
Association/HOA
- Association Fee: $0.00
School Information
- School District: Soap Lake
Income/Expenses
- Other Expense: 0
- Electric Expense: 7800
- Fuel Expense: 0
- Gross Scheduled Income: 135600
- Insurance Expense: 6960
- Net Operating Income: 116695
- Total Expenses: 18905
- Total Monthly Income: 11225
- Water/Sewer/Garbage: 2280
Building Information
- Building Name: Lakeview Park
- New Construction: No
- Year Built: 1947
Location/Region
- Country: US
- County Or Parish: Grant
- MLS Area Major: 291 - North Central Grant County
- Subdivision Name: Soap Lake
Community/Development
- Amenities: Storage
Tax Information
- Tax Annual Amount: $1,865.00
- Tax Year: 2026
General Information
- Listing Terms: Cash, Conventional
- Parcel Number: 081202000
- Possible Use: Multi-Family
- Property Condition: Fair
- Property Sub Type: Multi Family
- Property Type: Residential Income
- Senior Community: No
- Special Listing Conditions: None
Interior
Parking Information
- Garage Spaces: 0
Beds/Baths
- Bedrooms Upper: 0
Building Interior
- Building Area Total: 6192
- Building Area Units: Square Feet
- Calculated Square Footage: 6192
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: Yes
- Fireplace: No
- Fireplaces Total: 0
- Flooring: Vinyl, Carpet
- Foundation Details: Concrete Ribbon
- Heating: Yes
- Leasable Area: 5808
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric,Oil
- Stories Total: 1
Exterior
Parking Information
- Open Parking: No
- Parking Total: 0
- Parking Uncovered Total: 0
Lot Information
- Irrigation Water Rights: No
- Lot Features: Paved
- Lot Size Acres: 0.6887
- Lot Size Dimensions: 37500
- Lot Size Square Feet: 30000
- Lot Size Units: Square Feet
- Site Features: Cable TV, High Speed Internet
- Elevation Units: Feet
- Water Source: Community
Waterfront/View
- Waterfront: No
Building Exterior/Construction
- Roof: Composition
- Structure Type: Multi Family
General Information
- Carport Spaces: 0
- Carport: No
- Covered Spaces: 0
- Exterior Features: Wood Products
- Number Of Units Total: 3
- Sewer: Septic Tank
Unit Information
Unit 1 Details
- Beds Total: 0
- Baths Total: 1
Unit 2 Details
- Beds Total: 0
- Baths Total: 1
Unit 3 Details
- Actual Rent: 200
- Beds Total: 0
- Baths Total: 0
68 W State Highway 28 Neighborhood
Community
98851 (Soap Lake) Demographics
39
Median Age
29
Population Density (per sq. mile)
23%
College Educated
$47,643
Estimated Median Income
1,364
Estimated Total Home Owners
417
Estimated Total Renters
77% / 23%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.68 W State Highway 28 Monthly Cost
68 W State Highway 28 Market Data
Based on the last 30 days in this zip code
$503,899
Average List Price
$260
Average Price per Square Foot
7
Properties Sold
127
Average Days on Market
41
Properties for Sale
68 W State Highway 28 History
| Date | Value | Agent |
|---|---|---|
| 6/23/2026Source: NWMLS | Pending |
|
| 6/23/2026Source: NWMLS | Pending |
|
| 5/17/2026Source: NWMLS | Pending Feasibility |
|
| 5/16/2026Source: NWMLS | Pending Feasibility |
|
| 5/16/2026Source: NWMLS | Pending |
|
| 5/1/2026Source: NWMLS | $969,000 -3.0% |
|
| 5/1/2026Source: NWMLS | $969,000 -3.0% |
|
| 4/7/2026Source: NWMLS | $999,000 -9.1% |
|
| 4/7/2026Source: NWMLS | $999,000 -9.1% |
|
| 3/25/2026Source: NWMLS | March 25, 2026 |
|
| 3/23/2026Source: NWMLS | March 23, 2026 |