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12218 W 10th Ave 2 Unit Apartment Building $495,500 ($247,750/Unit) 6.21% Cap Rate Airway Heights, WA 99001

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INVESTMENT HIGHLIGHTS

Updated units, low maintenance and fully occupied.

Close to Fairchild Air Force Base, Spokane Airport and downtown Spokane

EXECUTIVE SUMMARY

Welcome to Your Next Investment Opportunity! Don’t miss this exceptional duplex located in the rapidly growing community of Airway Heights—an area experiencing steady appreciation with even more development on the horizon. Major employers such as Spokane International Airport, Fairchild Air Force Base, Amazon, and others continue to drive strong demand, making this one of the most desirable regions for real estate investment. Unit 12218 W 10th is currently rented at $1,650/month and features fresh paint, new carpet, and luxury vinyl plank (LVP) flooring—making it both move-in ready and low-maintenance. Unit 12220 W 10th is rented at $1,750/month and has been similarly updated with modern flooring and thoughtful finishes. Whether you’re looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility, consistent cash flow, and long-term value. Ideal for generating passive income or serving as a comfortable home—this duplex is ready to work for you.

12218 W 10th with 30%

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$39,576	$18.41
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$39,576	$18.41
Taxes	$3,425	$1.59
Operating Expenses	$5,400	$2.51
Total Expenses	$8,825	$4.10
Net Operating Income	$30,751	$14.30

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$39,576
Annual Per SF	$18.41

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$39,576
Annual Per SF	$18.41

Taxes
Annual	$3,425
Annual Per SF	$1.59

Operating Expenses
Annual	$5,400
Annual Per SF	$2.51

Total Expenses
Annual	$8,825
Annual Per SF	$4.10

Net Operating Income
Annual	$30,751
Annual Per SF	$14.30

PROPERTY FACTS

Price	$495,500	Apartment Style	Townhome
Price Per Unit	$247,750	Building Class	C
Sale Type	Investment	Lot Size	0.15 AC
Cap Rate	6.21%	Building Size	2,150 SF
Gross Rent Multiplier	12.14	Average Occupancy	100%
No. Units	2	No. Stories	1
Property Type	Multifamily	Year Built/Renovated	2006/2025
Property Subtype	Apartment Multifamily Apartments	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$495,500
Price Per Unit	$247,750
Sale Type	Investment
Cap Rate	6.21%
Gross Rent Multiplier	12.14
No. Units	2
Property Type	Multifamily
Property Subtype	Apartment Multifamily Apartments
Apartment Style	Townhome
Building Class	C
Lot Size	0.15 AC
Building Size	2,150 SF
Average Occupancy	100%
No. Stories	1
Year Built/Renovated	2006/2025
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.