Log In/Sign Up
Your email has been sent.
New West Apartments 7723 W Sunset Hwy 16 Unit Apartment Building $2,714,217 CAD ($169,639 CAD/Unit) 6.33% Cap Rate Spokane, WA 99224
Investment Highlights
- Great Visibility
- Strong unit mix of 2b and 3br
- Close to all services
- Value Add
Executive Summary
Value Add play! This 16 unit has a solid unit mix and advantageous location on the fast growing West Plains in the Spokane metro area. It needs some TLC and new energy to enhance the return. Situated on a little more than two acres, there may be a development play along the highway frontage. Ample parking, covered and uncovered.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$333,853
|
$14.68
|
| Other Income |
$2,367
|
$0.10
|
| Vacancy Loss |
$20,031
|
$0.88
|
| Effective Gross Income |
$316,189
|
$13.90
|
| Taxes |
$19,823
|
$0.87
|
| Operating Expenses |
$124,538
|
$5.47
|
| Total Expenses |
$144,361
|
$6.35
|
| Net Operating Income |
$171,828
|
$7.55
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $333,853 |
| Annual Per SF | $14.68 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,367 |
| Annual Per SF | $0.10 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $20,031 |
| Annual Per SF | $0.88 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $316,189 |
| Annual Per SF | $13.90 |
| Taxes (CAD) | |
|---|---|
| Annual | $19,823 |
| Annual Per SF | $0.87 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $124,538 |
| Annual Per SF | $5.47 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $144,361 |
| Annual Per SF | $6.35 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $171,828 |
| Annual Per SF | $7.55 |
Property Facts
| Price | $2,714,217 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $169,639 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.03 AC |
| Cap Rate | 6.33% | Building Size | 22,747 SF |
| Gross Rent Multiplier | 8.1 | Average Occupancy | 95% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Zoning | S-LI | ||
| Price | $2,714,217 CAD |
| Price Per Unit | $169,639 CAD |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| Gross Rent Multiplier | 8.1 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.03 AC |
| Building Size | 22,747 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | S-LI |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Heating
- Kitchen
- Oven
- Range
- Yard
- Lawn
- Window Coverings
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 13 | $1,701 CAD | 850 |
| 3+1 | 3 | $2,177 CAD | 950 |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $1,939,888 CAD (2025) | |
| Land Assessment | $583,319 CAD (2025) | Annual Taxes | $19,823 CAD ($0.87 CAD/SF) |
| Improvements Assessment | $1,356,569 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$583,319 CAD (2025)
Improvements Assessment
$1,356,569 CAD (2025)
Total Assessment
$1,939,888 CAD (2025)
Annual Taxes
$19,823 CAD ($0.87 CAD/SF)
Tax Year
2026
1 of 26
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
New West Apartments | 7723 W Sunset Hwy
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.