Timber Ridge Apartments | 620 S Walnut St
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Timber Ridge Apartments 620 S Walnut St
8 Unit Apartment Building $1,335,000 ($166,875/Unit) 4.04% Cap Rate Spokane, WA 99204
INVESTMENT HIGHLIGHTS
- Covered parking with secure entry and interior mailroom
- Exterior is hardy board siding in excellent condition making for easy cleaning and low maintenance
- Washer and dryer on site with average monthly income of $150
- Vinyl windows and sliders with weather free stairways
- Upgraded appliances in place and all wiring is encased in conduit
- Quality finish in both kitchens and bathrooms
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. NOI: Proforma: $72,338
PROPERTY FACTS
| Price | $1,335,000 | Building Class | C |
| Price Per Unit | $166,875 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 7,824 SF |
| Cap Rate | 4.04% | 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 |
| Price | $1,335,000 |
| Price Per Unit | $166,875 |
| Sale Type | Investment |
| Cap Rate | 4.04% |
| 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 |
UNIT AMENITIES
- Kitchen
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
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Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 25244.3108 | Improvements Assessment | $684,200 |
| Land Assessment | $124,800 | Total Assessment | $809,000 |
PROPERTY TAXES
Parcel Number
25244.3108
Land Assessment
$124,800
Improvements Assessment
$684,200
Total Assessment
$809,000
ZONING
| Zoning Code | RHD |
| RHD |
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Timber Ridge Apartments | 620 S Walnut St
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