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Manor Vale Apartments 10101 E Main Ave 38 Unit Apartment Building $5,950,000 ($156,579/Unit) 7.02% Cap Rate Spokane, WA 99206
Investment Highlights
- 5-minute drive to Downtown Spokane
- Across the street from Balfour Park and Spokane Valley Library
- Walking distance to nearby amenities, including WinCo Foods and various shops and restaurants
- Large two-acre corner lot with future development potential
- Desirable mix of large 1-bedroom and 2-bedroom apartments (963 SF Avg)
- Excellent cash flow opportunity located in the heart of fast-growing Spokane Valley
Executive Summary
CBRE proudly presents The Manor Vale Apartments, a 38-unit investment opportunity located in beautiful Spokane Valley, Washington. Ideally situated across the street from Balfour Park and the new Spokane Valley Library, which is part of a thriving cultural and recreational hub, this charming garden-style complex consists of four buildings spread across a large two-acre corner lot.
The property features a desirable mix of large 1-bedroom and 2-bedroom units, each with a private deck or patio, and a community swimming pool with a barbecue area. The Manor Vale Apartments offers a buyer the combination of good in-place rents and the potential for further upside in a fast-growing location.
The property features a desirable mix of large 1-bedroom and 2-bedroom units, each with a private deck or patio, and a community swimming pool with a barbecue area. The Manor Vale Apartments offers a buyer the combination of good in-place rents and the potential for further upside in a fast-growing location.
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,950,000 | Building Class | C |
| Price Per Unit | $156,579 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 35,902 SF |
| Cap Rate | 7.02% | Average Occupancy | 100% |
| No. Units | 38 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1972/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | UR22 - Multi-Family Residential | ||
| Price | $5,950,000 |
| Price Per Unit | $156,579 |
| Sale Type | Investment |
| Cap Rate | 7.02% |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.00 AC |
| Building Size | 35,902 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2024 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | UR22 - Multi-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Ceiling Fans
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
- Grill
- Breakfast Nook
- Deck
- Dining Room
- Double Pane Windows
- Linen Closet
- Pantry
- Patio
- Recreation Room
Site Amenities
- Laundry Facilities
- Security System
- Sundeck
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 45174.2516 | Total Assessment | $2,743,400 (2026) |
| Land Assessment | $515,110 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,228,290 (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
45174.2516
Land Assessment
$515,110 (2026)
Improvements Assessment
$2,228,290 (2026)
Total Assessment
$2,743,400 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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