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Listed by:KW Frontline • Russ McClellan
$1,950,000
Est. payment /mo
0.52 Acres Lot
Active
315 W Gibson AVE Chelan, WA 98816
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Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Chelan
MLS Listing ID 2590977
Style 61 - Comm Bldg Ovr 10K
Year Built 1956
Lot Size 0.524 Acres
Property Sub-Type Commercial Industrial
Property Description
Westwind is not a traditional apartment building. The property includes 13 established residential condominium units currently operated together as a rental investment, along with separately condominiumized garages and parking interests. This structure creates a unique combination of current income and long-term exit flexibility. Several units have had limited rent adjustments over time, providing opportunity to increase revenue and NOI as rents move toward market levels. Continue operating as a rental portfolio, improve units and income, or potentially sell individual condominium interests over time. Seller-owned future air rights and Downtown Mixed Residential zoning add further flexibility. Directly across from Don Morse Memorial Park and walking distance to Lake Chelan, marina, dining, shopping and recreation.
Location
State WA
County Chelan
Area 961 - Lake Chelan
Interior
Fireplace false
Exterior
Exterior Feature Cement/Concrete
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
NEARBY SCHOOL & BUSINESS
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