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Cedar Terrace Apartments 1405 W 8th Ave 13 Unit Apartment Building $1,700,000 ($130,769/Unit) 6.83% Cap Rate Spokane, WA 99204
Investment Highlights
- On Site Laundry Facility
- Near downtown Spokane and I90
- Near Restaurant and shopping
Executive Summary
8- 1 Bed/1 Bath Units
5- 2 Bed/1 Bath Units
Rental Income of $14,989/Month
On Site Laundry Facility
Beautifully Landscaped Grounds
Located Near Restaurants, Shopping, I-90, and Downtown Spokane
5- 2 Bed/1 Bath Units
Rental Income of $14,989/Month
On Site Laundry Facility
Beautifully Landscaped Grounds
Located Near Restaurants, Shopping, I-90, and Downtown Spokane
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $130,769 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 6.83% | Building Size | 9,372 SF |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | Apartment | ||
| Price | $1,700,000 |
| Price Per Unit | $130,769 |
| Sale Type | Investment |
| Cap Rate | 6.83% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 9,372 SF |
| No. Stories | 3 |
| Year Built | 1962 |
| Opportunity Zone |
Yes |
| Zoning | Apartment |
Amenities
- Smoke Detector
Unit Amenities
- Disposal
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 5 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 25244.4001 | Improvements Assessment | $1,292,530 (2026) |
| Land Assessment | $135,270 (2026) | Total Assessment | $1,427,800 (2026) |
Property Taxes
Parcel Number
25244.4001
Land Assessment
$135,270 (2026)
Improvements Assessment
$1,292,530 (2026)
Total Assessment
$1,427,800 (2026)
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Cedar Terrace Apartments | 1405 W 8th Ave
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