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.
Active
$1,400,000
540 N Madison St, Tekoa, WA 99033
20beds
18baths
17,754sqft
MultiFamily
Built in 1982
-- sqft lot
$-- Zestimate®
$79/sqft
$-- HOA
What's special
On-site laundry facilities
- 37 days
- 293
- 9
Zillow last checked:
Listing updated:
Listed by:
Ryan Towner 509-481-0373,
LT Real Estate,
Dallas Lightner 509-315-8720,
LT Real Estate
Source: SMLS as distributed by MLS GRID,MLS#: 202622414
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 20
- Bathrooms: 18
Heating
- Forced Air
Features
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 17,754
- Total interior livable area: 17,754 sqft
Property
Parking
- Parking features: Assigned
Features
- Levels: One
- Stories: 1
Lot
- Size: 3.3 Acres
Details
- Additional parcels included: 117950026000001, 117950026000002
- Parcel number: 117950028000000
Construction
Type & style
- Home type: MultiFamily
Materials
- Wood Siding
- Roof: Composition
Condition
- Year built: 1982
Community & HOA
HOA
- Amenities included: Laundry, Recreational Area, Storage
Location
- Region: Tekoa
Financial & listing details
- Price per square foot: $79/sqft
- Tax assessed value: $2,875
- Annual tax amount: $30
- Date on market: 8/11/2026
- Listing terms: Conventional,Cash,Commercial
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/11/2026 | Listed for sale | $1,400,000$79/sqft |
Source:  SMLS as distributed by MLS GRID #202622414 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $30 -31.9% | $2,875 |
| 2024 | $44 +17.3% | $2,875 +15% |
| 2023 | $37 -6.9% | $2,500 |
| 2022 | $40 +2.6% | $2,500 |
| 2021 | $39 +16.5% | $2,500 |
| 2019 | $34 +16.8% | $2,500 |
| 2018 | $29 | $2,500 |
| 2017 | $29 -26.1% | $2,500 |
| 2016 | $39 +24% | $2,500 |
| 2015 | $31 -22.4% | $2,500 |
| 2014 | $41 | $2,500 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 99033
Nearby schools
Schools provided by the listing agent
- District: Tekoa
Source: SMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
