Listed by SVN | Cornerstone
$3,095,000
Felts Townhomes
Details
Property Type Multifamily
Sub Type Townhome
Square Footage 14,560
Units 12
Cap Rate 5.50%
NOI $170,149
Price per SqFt $213
Class A
Year Built 2025
Buildings 2
Acreage 0.800
Zoning CMU
12 two story townhome units, each offering two bedrooms and one and a half bathrooms
Marketing description
SVN Cornerstone is pleased to present the Felts Townhomes for sale located at 303-314 S Felts Ln in the Spokane Valley. The Felts Townhomes consist of 12 two story townhome units, each offering two bedrooms and one and a half bathrooms. The property features newer construction with high end finishes, dedicated covered carports for each unit, in unit washer and dryer, and an on site community garden for residents.
Investment highlights
- Newer Construction – 8 of the 12 units were built in 2016 and 4 of the 12 units were completed in 2025, providing modern systems and low future maintenance
- High Quality Interiors – Each unit includes LVP flooring, stainless steel appliances, hard surface countertops, ductless heating and cooling, private patios, in unit washer and dryer, and covered carport parking
- Investor Friendly Location – Spokane Valley location with lower utility costs, tenants paying garbage directly, 90 day rent increase notices versus 180 days in the City of Spokane, and fewer regulatory restrictions
- Strong Rental Demand and Demographics – Desirable Dishman Hills location with easy access to I-90, schools, parks, and employment, supported by strong household incomes averaging $152,588 within one mile
- Rental Upside and Exit Flexibility – Current rents average $1,656 versus $1,750 market rents, offering immediate upside and the option to sell 4 of 12 units individually due to separate parcels for added flexibility
Listing Contacts
Listed by SVN | Cornerstone
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,149.00
$14,179.08/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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