68 W State Highway 28 Soap Lake, WA $ 1,099,000
68 W State Highway 28
$ 1,099,000
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68 W State Highway 28

Soap Lake, WA, 98851
$ 1,099,000
Baths0.0 Sq 6,192

Monthly Estimate*

$ 6,767

Listed by Windermere RE K-2 Realty
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Studio

Multi-Family Home for sale in Soap Lake, WA

for $1,099,000. This 6,192 square foot home was built in 1947 on a lot size of 0.6887.

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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Multi-Family Active

Price

$ 1,099,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 1,865

Style

10+ Units

Lot Size

0.6887

Year Built

1947

Town/City

Soap Lake

County/Region

Grant

MLS | Web ID

2495457

Features
General
Living Area 0
Sewer Septic Tank
Heating Radiator
Cooling Wall Unit(s)
Possession Closing Negotiable
Roof Composition
HOA Fee 0
Garage Spaces 0
Year Built 1947
View City Territorial
Property Subtype Multi Family
Tax Year 2026
Building Name Lakeview Park
County Grant
Net Operating Income 116695
Insurance Expense 6960
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Soap Lake
Possible Use Multi-Family
Special Listing Conditions None
Status Active
Directions State Highway 28 between Soap Lake and Ephrata property is on the west side of Highway 28.
City Soap Lake
Senior Community Y/N N
High School District Soap Lake
Zoning Description Multi-Family
Number Of Units Total 3
MLS Area 291 - North Central Grant County
Lot Size Units Square Feet
Lot Size Square Feet 30000
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Conventional
Tax Annual Amount 1865
Electric Expense 7800
Fuel Expense 0
Property Condition Fair
Public Remarks 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 mo
Leasable Area 5808
Structure Type Multi Family
Building Area Units Square Feet
Standard Status Active
Amenities Storage
Water Company Lakeview Water Park
Units Below Grade false
Units In Building Total 15
Water Sewer Garbage 2280
Property Style 56 - 10+ Units
Cap Rate 12
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Exterior
Exterior Amenities Wood Products
Lot Features Paved
Water Source Community
Foundation Details Concrete Ribbon
Building Area Total 6192
Lot Dimensions 37500
Lot Size Acres 0.6887
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Cable TV High Speed Internet
Parking Uncovered Total 0
Lot Number 6 & 7 & Parts of Lot8
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 1
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Power Production Type Electric Oil
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2495457
Street Number 1 68
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* Excluded Features
List By
Jay P. Kincaid

Listing Agent

Windermere Re K-2 Realty

Broker

Affordability Calculator

$6,922
Per Month
98%
2%
0%
Monthly Principal & Interest
$6,767
Monthly Property Taxes
$155
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
258604 Elementary School
257938 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/23/2026$1,099,000 Listed Price

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68 W State Highway 28, Soap Lake, WA, 98851 is a Multi-Family Home for sale at $1,099,000 with 6,192 sqft and a lot size of 0.6887. 68 W State Highway 28 is a studio with 0.0 baths and was built in 1947. The property's zip code is 98851 which is in Soap Lake, WA