$465,000
Est. $2,415/mo407 1st Avenue, Ritzville, WA 99169
• Listed 2025-12-16•12 days on market
Talk to a local RexMont expert
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: September 3, 2026 at 12:43pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2461556
Open houses
No upcoming open houses scheduled for this property.
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
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
$2,820 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.
$425,000 Sold
5 weeks ago
5 bd•3 ba•~2,876 sq ft•Single Family
103 E Broadway Avenue, Ritzville, WA 99169
0%
Over list
—
Days on market
0.3 mi
Distance
$249,995 Sold
6 weeks ago
3 bd•1.75 ba•~2,806 sq ft•Single Family
206 E 3rd Avenue, Ritzville, WA 99169
0%
Over list
—
Days on market
0.3 mi
Distance
$305,000 Sold
6 weeks ago
4 bd•2 ba•~1,904 sq ft•Single Family
407 W 4th Avenue, Ritzville, WA 99169
2%
Over list
—
Days on market
0.2 mi
Distance
$184,900 Sold
2 months ago
2 bd•1 ba•~931 sq ft•Single Family
209 E Alder Avenue, Ritzville, WA 99169
3%
Under list
—
Days on market
0.4 mi
Distance
$245,000 Sold
3 months ago
4 bd•1.75 ba•~2,450 sq ft•Single Family
207 W 10th Avenue, Ritzville, WA 99169
0%
Over list
—
Days on market
0.5 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
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of September 3, 2026 at 12:43pm (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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
RexMont Value Snapshot
Pull the latest nearby sold homes matched on size, age, and location.
More homes in this area that match your range.
