ActiveMLS® 202527879
12405-12409 E 3rd Ave, Spokane Valley, WA 99216 photo 1
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Lease
MLS® 202527879
$5,590,000
12405-12409 E 3rd Ave, Spokane Valley, WA 99216
1.19 Acres27,309 Sq.Ft. Built 2021
Description

Discover a rare offering of two modern apartment buildings in Spokane Valley’s Opportunity Neighborhood, ideally located near schools, shopping, dining, parks, and the Appleway Trail. Built in 2021 and 2023, these low-maintenance properties total 26 units- 22 spacious 3 bed/2 bath and four 1 bed/1 bath apartments with 40+ parking spaces and contemporary finishes throughout. Each building features common laundry facilities and in-unit washers/dryers in select apartments, with potential to boost income by adding in-unit laundry to 14+ units. Current rents are below market, providing a clear path for increased cash flow. Zoning is MFR, and both parcels sit on over 25,000 SF each. Additional features includes reduced expenses through utility billing conversion. Strong location, new construction, and immediate value-add potential make this a compelling multi-family investment.

Interior
  • Additional features
  • Utilities
  • Air conditioning
  • Basement description: None
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension
  • Lot description: Level, City Bus (w/in 6 blks), Surveyed
Exterior
  • Body of water
  • Water frontage
  • View
  • Pool
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension
  • Lot description: Level, City Bus (w/in 6 blks), Surveyed
  • Foundation
  • Exterior
  • Roofing materials: Composition