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The Fairview Apartments 547-557 E Fairview Ave 6 Unit Apartment Building $706,105 CAD ($117,684 CAD/Unit) 6.50% Cap Rate Spokane, WA 99207
Investment Highlights
- Easy Maintenance/Efficient Units
- Central Location
- Individually Metered Heat, Lights & Hot Water
- Corner Lot
- Carports
Executive Summary
Compact and tidy, this 6 unit apartment property offers an excellent entry point or addition for multifamily investors. Each 1br/1ba unit has had a relatively recent facelift and has wall A/C and a covered parking spot. It may be possible to add a washer/dryer combo in each unit due to roughed in plumbing and electric in a closet. Membrane roof, irrigation for the small yard are also present.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$85,712
|
$17.49
|
| Other Income |
$1,361
|
$0.28
|
| Vacancy Loss |
$5,143
|
$1.05
|
| Effective Gross Income |
$81,930
|
$16.71
|
| Taxes |
$8,294
|
$1.69
|
| Operating Expenses |
$27,501
|
$5.61
|
| Total Expenses |
$35,795
|
$7.30
|
| Net Operating Income |
$46,135
|
$9.41
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $85,712 |
| Annual Per SF | $17.49 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,361 |
| Annual Per SF | $0.28 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,143 |
| Annual Per SF | $1.05 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $81,930 |
| Annual Per SF | $16.71 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,294 |
| Annual Per SF | $1.69 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $27,501 |
| Annual Per SF | $5.61 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $35,795 |
| Annual Per SF | $7.30 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $46,135 |
| Annual Per SF | $9.41 |
Property Facts
| Price | $706,105 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $117,684 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.50% | Building Size | 4,902 SF |
| Gross Rent Multiplier | 8.2 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 2.04/1,000 SF |
| Zoning | RSF | ||
| Price | $706,105 CAD |
| Price Per Unit | $117,684 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 8.2 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,902 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | RSF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 750 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 35082.0312 | Total Assessment | $813,721 CAD (2025) |
| Land Assessment | $107,984 CAD (2025) | Annual Taxes | $8,294 CAD ($1.69 CAD/SF) |
| Improvements Assessment | $705,737 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
35082.0312
Land Assessment
$107,984 CAD (2025)
Improvements Assessment
$705,737 CAD (2025)
Total Assessment
$813,721 CAD (2025)
Annual Taxes
$8,294 CAD ($1.69 CAD/SF)
Tax Year
2026
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The Fairview Apartments | 547-557 E Fairview Ave
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