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Timber Ridge Apartments 620 S Walnut St 8 Unit Apartment Building $1,711,338 CAD ($213,917 CAD/Unit) 5.34% Cap Rate Spokane, WA 99204
Investment Highlights
- New roof installed in 2024
- Low-maintenance Hardie board siding with vinyl windows and weather-protected stairways
- On-site washer & dryer with average monthly income of $150
- Covered parking with secure entry and interior mailroom
- Upgraded appliances and fully conduit-encased wiring
- Quality kitchen and bathroom finishes with covered patios and city views
Executive Summary
Great opportunity to own a high quality 8 unit apartment complex on Spokane's lower south hill. All major improvements have been completed, so there is very little expected maintenance. Property is a mix of four one-bedroom units and four two-bedroom units.
Property Facts
| Price | $1,711,338 CAD | Building Class | C |
| Price Per Unit | $213,917 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 7,824 SF |
| Cap Rate | 5.34% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RHD | ||
| Price | $1,711,338 CAD |
| Price Per Unit | $213,917 CAD |
| Sale Type | Investment |
| Cap Rate | 5.34% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,824 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1969 |
| Opportunity Zone |
Yes |
| Zoning | RHD |
Amenities
Unit Amenities
- Kitchen
- Tub/Shower
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | 25244.3108 | Improvements Assessment | $915,725 CAD |
| Land Assessment | $170,673 CAD | Total Assessment | $1,086,398 CAD |
Property Taxes
Parcel Number
25244.3108
Land Assessment
$170,673 CAD
Improvements Assessment
$915,725 CAD
Total Assessment
$1,086,398 CAD
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Timber Ridge Apartments | 620 S Walnut St
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