Garden-Style Apartment
10101 East Main Avenue Spokane Valley, WA 99206
10101 East Main Avenue, Spokane Valley, WA, 99206
$5,950,000
For Sale
$5,950,000
Four garden-style apartment buildings on a large corner lot with private decks or patios and a community pool.
Property Size35,902 SF
Lot Size2.00 Acres
Price / SF$165.73
Days on Market49
Property Features for 10101 East Main Avenue
General Information
- Standard status
- Active
- Size
- 35,902 SF
- Lot size
- 2.00 Acres
- Property subtype
- Multifamily
Listing agency
CBRE
(206) 442-2764
Listed by
Spencer Clark
(206) 442-2764
Source
Cbre
Added: Jun 4 Updated: Jul 21 at 5:57PM Checked: Jul 22 at 4:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE
Investment Insights
Based on property information with market context.
This garden-style apartment complex consists of four buildings spread across a large two-acre corner lot. The property offers a mix of large 1-bedroom and 2-bedroom units, and each unit includes a private deck or patio. Community amenities include a swimming pool and a barbecue area, supporting everyday outdoor use.
The buildings are positioned on a corner lot directly across from Balfour Park and the Spokane Valley Library. The location is described as being within the heart of fast-growing Spokane Valley, with a 15-minute drive to Downtown Spokane. Additional nearby amenities noted include WinCo Foods and various shops and restaurants, with walking distance access.
For prospective buyers, the unit mix is highlighted as a desirable blend of larger one- and two-bedroom apartments. The listing also references future development potential tied to the large corner lot.
The buildings are positioned on a corner lot directly across from Balfour Park and the Spokane Valley Library. The location is described as being within the heart of fast-growing Spokane Valley, with a 15-minute drive to Downtown Spokane. Additional nearby amenities noted include WinCo Foods and various shops and restaurants, with walking distance access.
For prospective buyers, the unit mix is highlighted as a desirable blend of larger one- and two-bedroom apartments. The listing also references future development potential tied to the large corner lot.
Key Highlights
- Four garden‑style apartment buildings on a large 2‑acre corner lot
- Unit mix includes large 1‑bedroom and 2‑bedroom apartments (963 SF avg) with private deck or patio
- Community swimming pool plus a BBQ area
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $560.1k | $15.60 |
| − Vacancy | −$36.4k | −$1.01 |
| EGI | $523.7k | $14.59 |
| − OpEx | −$235.6k | −$6.56 |
| NOI | $288.0k | $8.02 |
35,902 SF · lease $15.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.11M
$3.60M – $4.80M
NOI $288,017 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.80M
$6.82M – $9.10M
NOI $545,940 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Manor Vale Apartments
Apartment Complex
Reator,Bank,Homerowner's,Property Owers Welcome
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Four garden-style apartment buildings on a large corner lot with private decks or patios and a community pool.
Where is this apartment building located?
The property is located at 10101 East Main Avenue Spokane Valley, WA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: Four garden‑style apartment buildings on a large 2‑acre corner lot; Unit mix includes large 1‑bedroom and 2‑bedroom apartments (963 SF avg) with private deck or patio; Community swimming pool plus a BBQ area
