Listed by CBRE - Seattle
$5,950,000
Manor Vale Apartments
Details
APN 451742516
Property Type Multifamily
Sub Type Apartment Building
Square Footage 35,902
Net Rentable (SqFt) 35,902
Units 38
Cap Rate 7.02%
Occupancy 95%
Price per SqFt $166
Year Built 1972
Buildings 4
Lot Size (SqFt) 87,120
Zoning UR22
Investment Type Value Add
Sale Condition For sale by owner
Multifamily | 38 Units | $156,579/unit
Marketing description
CBRE proudly presents The Manor Vale Apartments, a 38-unit investment opportunity located in beautiful Spokane Valley, Washington. Ideally situated across the street from Balfour Park and the new Spokane Valley Library, which is part of a thriving cultural and recreational hub, this charming garden-style complex consists of four buildings spread across a large two-acre corner lot. The property features a desirable mix of large 1-bedroom and 2-bedroom units, each with a private deck or patio, and a community swimming pool with a barbecue area. The Manor Vale Apartments offers a buyer the combination of good in-place rents and the potential for further upside in a fast-growing location.
Investment highlights
- Excellent cash flow opportunity located in the heart of fast-growing Spokane Valley
- Desirable mix of large 1-bedroom and 2-bedroom apartments (963 SF Avg)
- Across the street from Balfour Park and Spokane Valley Library
- 15-minute drive to Downtown Spokane
- Walking distance to nearby amenities, including WinCo Foods and various shops and restaurants
- Large two-acre corner lot with future development potential
Listing Contacts
Listed by CBRE - Seattle
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