Alderwood Apartments | 515 S Farr Rd
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Alderwood Apartments 515 S Farr Rd
92 Unit Apartment Building $14,800,000 ($160,870/Unit) 6.27% Cap Rate Spokane, WA 99206
Executive Summary
See Property Website: https://property.creop.com/39460/index.htm?ticks=638600405465748252 Get ready to elevate your investment portfolio with this exceptional Multi-Family property located at 400 S Farr Rd. Nestled in a prime location, this property offers a lucrative opportunity for savvy investors seeking high returns on investment. The vacancy rate has remained below 2% for several years. Spokane Valley and South Spokane have the lowest vacancy rate for apartment buildings these days.
Boasting a strategic location, this property is a magnet for tenants, ensuring a steady stream of rental income. With its proximity to key amenities, schools, and transportation hubs, this property presents a compelling investment proposition for those looking to maximize their ROI.
This property is a cash flow machine waiting to be tapped into. With a strong rental history and high demand for multi-family units in the
area, you can rest assured that your investment will yield impressive returns. Don't miss out on the chance to capitalize on this income generating gem. All of this means that the local real estate market is doing well. Multifamily properties in these areas are highly demanded and provide real estate buyers with a good income potential and great investment opportunities.
The potential for growth and appreciation with this property is unparalleled. As the real estate market in the area continues to thrive,
investing in this Multi-Family property is not just a smart financial move but also a promising long-term asset. Watch your investment flourish as property values soar in this sought-after location.
Seize the opportunity to secure your financial future with this MultiFamily property. Whether you're a seasoned investor or a newcomer to the real estate game, this property offers the perfect blend of location, income potential, and growth prospects. Make a wise investment choice today and reap the rewards for years to come.
Boasting a strategic location, this property is a magnet for tenants, ensuring a steady stream of rental income. With its proximity to key amenities, schools, and transportation hubs, this property presents a compelling investment proposition for those looking to maximize their ROI.
This property is a cash flow machine waiting to be tapped into. With a strong rental history and high demand for multi-family units in the
area, you can rest assured that your investment will yield impressive returns. Don't miss out on the chance to capitalize on this income generating gem. All of this means that the local real estate market is doing well. Multifamily properties in these areas are highly demanded and provide real estate buyers with a good income potential and great investment opportunities.
The potential for growth and appreciation with this property is unparalleled. As the real estate market in the area continues to thrive,
investing in this Multi-Family property is not just a smart financial move but also a promising long-term asset. Watch your investment flourish as property values soar in this sought-after location.
Seize the opportunity to secure your financial future with this MultiFamily property. Whether you're a seasoned investor or a newcomer to the real estate game, this property offers the perfect blend of location, income potential, and growth prospects. Make a wise investment choice today and reap the rewards for years to come.
Property Facts
| Price | $14,800,000 | Apartment Style | Garden |
| Price Per Unit | $160,870 | Building Class | C |
| Sale Type | Investment | Lot Size | 8.30 AC |
| Cap Rate | 6.27% | Building Size | 90,776 SF |
| Gross Rent Multiplier | 14.45 | Average Occupancy | 96% |
| No. Units | 92 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1979/1992 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Price | $14,800,000 |
| Price Per Unit | $160,870 |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 14.45 |
| No. Units | 92 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.30 AC |
| Building Size | 90,776 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1979/1992 |
| Parking Ratio | 1.2/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Package Service
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 500 |
| 1+1 | 45 | - | 616 |
| 2+1 | 43 | - | 768 |
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PROPERTY TAXES
| Parcel Number | 45202.9049 | Improvements Assessment | $4,064,490 |
| Land Assessment | $351,510 | Total Assessment | $4,416,000 |
PROPERTY TAXES
Parcel Number
45202.9049
Land Assessment
$351,510
Improvements Assessment
$4,064,490
Total Assessment
$4,416,000
zoning
| Zoning Code | MF-2 |
| MF-2 |
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Alderwood Apartments | 515 S Farr Rd
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