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Modern Heights 1701 Crouse st 96 Unit Apartment Building $23,000,000 ($239,583/Unit) 5.74% Cap Rate Moses Lake, WA 98837
INVESTMENT HIGHLIGHTS
- New construction
- Kitchens include quartz countertops, stainless steel appliances and soft close solid cabinets
- Community center with an exercise room
EXECUTIVE SUMMARY
New build, four building, 96 unit apartment complex in Moses Lake. Sixteen 1
bedroom 1 bath, 48 2 bedroom 2 bath and 32 3 bedroom 2 bath units. The property
is also known as 1842 W Broadway Ave.
Construction was recently completed. The certificate of occupancy for the entire
project was received in November 2025. As of November 2025, 20 units have been
leased.
See https://www.modernheightsml.com/ for more information on this beautiful
newly built property.
bedroom 1 bath, 48 2 bedroom 2 bath and 32 3 bedroom 2 bath units. The property
is also known as 1842 W Broadway Ave.
Construction was recently completed. The certificate of occupancy for the entire
project was received in November 2025. As of November 2025, 20 units have been
leased.
See https://www.modernheightsml.com/ for more information on this beautiful
newly built property.
PROPERTY FACTS
| Price | $23,000,000 | Apartment Style | Garden |
| Price Per Unit | $239,583 | Building Class | B |
| Sale Type | Investment | Lot Size | 4.13 AC |
| Cap Rate | 5.74% | Building Size | 107,344 SF |
| No. Units | 96 | Average Occupancy | 21% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2025 |
| Zoning | R-3 - Multifamily Residential | ||
| Price | $23,000,000 |
| Price Per Unit | $239,583 |
| Sale Type | Investment |
| Cap Rate | 5.74% |
| No. Units | 96 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.13 AC |
| Building Size | 107,344 SF |
| Average Occupancy | 21% |
| No. Stories | 3 |
| Year Built | 2025 |
| Zoning | R-3 - Multifamily Residential |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Fitness Center
- Spa
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | 1,110 |
| 2+2 | 48 | - | 1,035 |
| 3+2 | 32 | - | 1,110 |
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Modern Heights | 1701 Crouse st
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