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    301 Main St Ione, WA 99139

    For Sale
    $895,000

    Ten-unit apartment building, excellent cap rate.

    Property size:
    9,968 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This well-located Ione, WA apartment building presents a compelling investment opportunity. The property, situated at 301 Main St, 99139, is a three-story, Class C multifamily building encompassing 9,968 square feet on a 6,000 square foot lot. The building consists of ten units, offering a diverse mix of floor plans to cater to a range of tenants. The unit breakdown includes three two-bedroom units, five one-bedroom units, one three-bedroom unit, and one studio apartment. Currently, the building enjoys 100% occupancy. Several units have undergone recent renovations, enhancing their appeal and market value. The property's prime location in the heart of Ione offers convenient access to amenities and is just a minute away from the Pend Oreille River, a significant draw for residents and visitors alike. With an asking price of $895,000 and a 7.00% cap rate, this property represents a strong return on investment in a desirable location. The building's solid occupancy rate and recent renovations contribute to its financial stability and potential for future growth. This is an exceptional opportunity for investors seeking a well-maintained, income-producing multifamily asset in a picturesque Washington setting.

    Property Features for 301 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,968 SF
    Class
    C

    Building Details

    Buildings
    1
    Stories
    3
    Units
    10

    HighLights

    • $895,000 asking price for a 10‑unit apartment building.
    • Multifamily property, Class C, totaling 9,968 square feet.
    • 7.00% cap rate.
    • Ten units in a single, three‑story building on a 6,000 square foot lot.
    • Located at 301 Main St, Ione, WA 99139.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ceder Creek Salon Hair Salon

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Auto Parts Store Hotel & Motel Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ione
    County
    Pend Oreille
    State
    Washington
    Longitude
    -117.4196933
    Latitude
    48.7407398

    Nearby Similar for Sale

    • $895,000
      9,968 SF

      Ione Multifamily Investment Opportunity

      Ten-unit multifamily property in Ione, Washington, fully occupied.
      301 Main St, Ione, WA 99139
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Ten-unit apartment building, excellent cap rate.
    Where is this multifamily property located?
    The property is located at 301 Main St Ione, WA.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: $895,000 asking price for a 10-unit apartment building.; Multifamily property, Class C, totaling 9,968 square feet.; 7.00% cap rate.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    301 Main St Ione, WA 99139
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