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6311 E 6th Ave 12 Unit Apartment Building $1,150,000 ($95,833/Unit) 8.47% Cap Rate Spokane Valley, WA 99212
EXECUTIVE SUMMARY
Presenting a new to market 12-unit apartment complex in Spokane Valley, constructed in 1978. It sits on three parcels and offers ample open parking. Each unit features an identical loft-style layout, with a bedroom upstairs and living areas, kitchen, and bathroom on the main floor. Current market rents are $950, which gives the property an impressive 8.5% cap rate. Even more, this property is located in an area surrounded by new high-end apartment buildings. Call for more information.
PROPERTY FACTS
| Price | $1,150,000 | Property Subtype | Apartment |
| Price Per Unit | $95,833 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.47% | Lot Size | 0.61 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,320 SF |
| Gross Rent Multiplier | 8.7 | No. Stories | 1 |
| No. Units | 12 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 4.63/1,000 SF |
| Zoning | R | ||
| Price | $1,150,000 |
| Price Per Unit | $95,833 |
| Sale Type | Investment |
| Cap Rate | 8.47% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.7 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 4,320 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 4.63/1,000 SF |
| Zoning | R |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 540 |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $686,100 | |
| Land Assessment | $300,000 | Total Assessment | $986,100 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$300,000
Improvements Assessment
$686,100
Total Assessment
$986,100
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6311 E 6th Ave
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