$449,000
Est. $2,266/mo407 1st Avenue, Ritzville, WA 99169
• Listed 2025-12-16•8 days on market
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Based on information submitted to the MLS GRID as of June 1, 2026 at 01:27pm (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Avg response under 5 mins
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.
Listed by Jay P. Kincaid • Windermere RE K-2 Realty
Listing updated: June 1, 2026 at 01:27pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2461226
Open houses
No upcoming open houses scheduled for this property.
$159,000
-$290,000 under list price
Nearby comparable homes
RexMont uses 1 strongest recent nearby sale, priced between $159K and $159K.1 outlier sale was excluded from this snapshot.
Rental earnings
$475/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
407 1st Avenue, Ritzville, WA 99169
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
$2,667 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedEstimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
Ritzville is a buyer's market.
Inventory is rising and homes are sitting longer. Buyers have room to negotiate.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 7% below list price.
Time on market: The average home goes pending in around 33 days.
$175,000 Sold
5 weeks ago
3 bd•1 ba•~1,844 sq ft•Single Family
210 W 9th Avenue, Ritzville, WA 99169
0%
Over list
—
Days on market
0.4 mi
Distance
$389,000 Sold
6 weeks ago
4 bd•2 ba•~3,192 sq ft•Single Family
309 W 9th Avenue, Ritzville, WA 99169
3%
Under list
—
Days on market
0.4 mi
Distance
$186,080 Sold
6 weeks ago
3 bd•2 ba•~1,040 sq ft•Single Family
107 W 9th Avenue, Ritzville, WA 99169
7%
Under list
—
Days on market
0.4 mi
Distance
$158,500 Sold
2 months ago
1 bd•1 ba•~360 sq ft•Single Family
512 W Broadway Avenue, Ritzville, WA 99169
4%
Under list
—
Days on market
0.2 mi
Distance
$45,000 Sold
3 months ago
•Single Family
105 W Railroad Avenue, Ritzville, WA 99169
18%
Under list
—
Days on market
0.2 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
