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River Court 3001 E Upriver Dr 21 Unit Apartment Building $4,015,050 CAD ($191,193 CAD/Unit) 6.64% Cap Rate Spokane, WA 99207
INVESTMENT HIGHLIGHTS
- Well-maintained, value-add apartment building
- Attractive amenities including full sized sports court, covered parking, large decks, and air conditioning
- Increase rents 14% as-is and 24% with renovations
- Highly desired location along the Spokane River
- Large layouts featuring a majority of 2-bedroom units
- Ample additional land providing future development opportunity
EXECUTIVE SUMMARY
Well-maintained and ideally situated along the highly desirable Spokane River, River Court offers immediate rental upside with the potential to increase rents by 14% as-is and up to 24% with renovations. The property features spacious, majority 2-bedoom layouts with attractive amenities including a full-sized sports court, covered parking, large decks, and air conditioning. With ample additional land, there's also a strong future development opportunity, making this an excellent investment in a growing market.
PROPERTY FACTS
| Price | $4,015,050 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $191,193 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.93 AC |
| Cap Rate | 6.64% | Building Size | 17,850 SF |
| No. Units | 21 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1.9/1,000 SF |
| Zoning | RMF | ||
| Price | $4,015,050 CAD |
| Price Per Unit | $191,193 CAD |
| Sale Type | Investment |
| Cap Rate | 6.64% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 17,850 SF |
| No. Stories | 3 |
| Year Built | 1979 |
| Parking Ratio | 1.9/1,000 SF |
| Zoning | RMF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Lawn
- Porch
SITE AMENITIES
- Basketball Court
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 750 |
| 2+1 | 20 | - | 850 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,860,371 CAD | |
| Land Assessment | $259,892 CAD | Total Assessment | $3,120,264 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$259,892 CAD
Improvements Assessment
$2,860,371 CAD
Total Assessment
$3,120,264 CAD
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River Court | 3001 E Upriver Dr
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