Log In/Sign Up
Your email has been sent.
701 S. Felts Road Buildings A&B 701 S Felts Rd 7 Unit Apartment Building $3,308,262 CAD ($472,609 CAD/Unit) 6.27% Cap Rate Spokane Valley, WA 99206
EXECUTIVE SUMMARY
BRAND NEW 7-unit multifamily property in a quiet Spokane Valley neighborhood! One 4-plex and a triplex make up the seven units, with each unit offering 3 bedrooms, 2.5 baths, and 1455 s.f. of living space. The modern design features many upgrades including stainless appliance package, durable LVP flooring, white shaker cabinetry w/ soft close drawers, and granite counters throughout. The excellent location and luxury feel of the units is sure to attract high quality tenants. One unit is fully furnished and grossing $3300/mo as an Airbnb. Each unit has an attached 1-car garage, and there are three additional detached garages for extra income potential.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$259,958
|
$25.52
|
| Other Income |
$28,452
|
$2.79
|
| Vacancy Loss |
$14,420
|
$1.42
|
| Effective Gross Income |
$273,989
|
$26.90
|
| Taxes |
$21,194
|
$2.08
|
| Operating Expenses |
$44,837
|
$4.40
|
| Total Expenses |
$66,032
|
$6.48
|
| Net Operating Income |
$207,958
|
$20.42
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $259,958 |
| Annual Per SF | $25.52 |
| Other Income (CAD) | |
|---|---|
| Annual | $28,452 |
| Annual Per SF | $2.79 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,420 |
| Annual Per SF | $1.42 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $273,989 |
| Annual Per SF | $26.90 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,194 |
| Annual Per SF | $2.08 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $44,837 |
| Annual Per SF | $4.40 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $66,032 |
| Annual Per SF | $6.48 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $207,958 |
| Annual Per SF | $20.42 |
PROPERTY FACTS
| Price | $3,308,262 CAD | Apartment Style | Townhome |
| Price Per Unit | $472,609 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.65 AC |
| Cap Rate | 6.27% | Building Size | 10,185 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $3,308,262 CAD |
| Price Per Unit | $472,609 CAD |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.65 AC |
| Building Size | 10,185 SF |
| No. Stories | 2 |
| Year Built | 2024 |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 7 | $3,095 CAD | 1,455 |
1 1
PROPERTY TAXES
| Parcel Number | 45201.1326 | Total Assessment | $2,477,817 CAD (2025) |
| Land Assessment | $277,906 CAD (2025) | Annual Taxes | $21,194 CAD ($2.08 CAD/SF) |
| Improvements Assessment | $2,199,911 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
45201.1326
Land Assessment
$277,906 CAD (2025)
Improvements Assessment
$2,199,911 CAD (2025)
Total Assessment
$2,477,817 CAD (2025)
Annual Taxes
$21,194 CAD ($2.08 CAD/SF)
Tax Year
2024
1 of 25
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
701 S. Felts Road Buildings A&B | 701 S Felts Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.