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Oasis Apartments 5004-5010 E 1st Ave 13 Unit Apartment Building $1,775,000 ($136,538/Unit) 5.32% Cap Rate Spokane Valley, WA 99212
INVESTMENT HIGHLIGHTS
- Individual parcels for each building allow for flexible exit strategy to maximize returns.
- Attractive unit mix with five 2-bed 1-bath, and eight 1-bed 1-bath units.
- Spokane Valley continues to experience robust demand for workforce housing.
EXECUTIVE SUMMARY
Oasis Apartments offers 13 multifamily units located in Spokane Valley, consisting of three triplexes and one fourplex built in 1955. The property features spacious unit layouts, private entrances, and minimal shared walls. These attributes contribute to strong tenant retention and rent premiums compared to traditional apartments. With a solid track record of rent performance and operational stability, Oasis Apartments stands out as a low density, high demand rental option in one of Eastern Washington’s most resilient markets.
PROPERTY FACTS
| Price | $1,775,000 | Apartment Style | Garden |
| Price Per Unit | $136,538 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.93 AC |
| Cap Rate | 5.32% | Building Size | 10,100 SF |
| No. Units | 13 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1955 |
| Zoning | CMU | ||
| Price | $1,775,000 |
| Price Per Unit | $136,538 |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 10,100 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1955 |
| Zoning | CMU |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,150 | 700 |
| 2+1 | 5 | $1,450 | 900 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,438,800 | |
| Land Assessment | $280,000 | Total Assessment | $1,718,800 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$280,000
Improvements Assessment
$1,438,800
Total Assessment
$1,718,800
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Oasis Apartments | 5004-5010 E 1st Ave
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