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Spokane Valley 8
Sale Price: $775,000
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Sales Summary
Press Coverage
Kidder Mathews Sells Spokane Valley Apartment Complex on North Park Road for $775,000
8-Unit Residential Complex in Spokane Valley Trades for $775,000
Kidder Mathews Sells Spokane Valley Apartment Complex
Testimonial
Max and his team are so good that my realtor family has worked with them several times. Max communicated every step of the way, bringing his expertise and advice, while always keeping our best intentions in mind. They time and time again prove to be true market experts.”
– Robin R., Spokane Valley 8 Unit Seller
Property Details
Sale Details
Opportunity
Take advantage of one of Washington State’s top rental markets.
Spokane is one of the State’s top rental markets featuring year over rent increases largely driven by Spokane’s continued population and job growth.
- Well-Maintained, Prime Value-Add Opportunity
- Increase Rents 13% to Market Rate and 24% with Renovations
- Electrical Fully Updated in 2010
- Extra land to add outdoor tenant amenities such as BBQ space or picnic area
- All tenants on month-to-month leases
- Attractive In-Place and Pro-Forma Cap Rate
- Surrounded by ample amenities including schools, jobs, and parks
Location
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About the Area
Situated between the City of Spokane to the West and Coeur d’Alene, Idaho to the East, Spokane Valley serves as an attractive suburb for renters combined with being within close proximity to major employers, resulting in continued year over year population and rent growth.
Spokane County has witnessed a surge in its rental market, creating a favorable investment climate for apartment owners.
With a steadily increasing population drawn by abundant job prospects and a vibrant cultural scene. Spokane has become a hotbed for workforce growth. This surge in population has sparked a rising demand for rental properties, resulting in a flourishing rental market. Apartment owners and investors have been quick to seize this opportunity, benefiting from high occupancy rates and the potential for rental income growth. The city’s diverse economy and the presence of major employers further contribute to a stable job market, ensuring a consistent pool of renters. Spokane’s growing rental market presents an enticing investment climate for those seeking to enter or expand their presence in the rental property market, making it a prime destination for both workforce opportunities and lucrative investments.
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