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    7314 7Th Ave Spokane Valley, WA 99212

    For Sale
    $689,900

    Four-unit rental portfolio, high occupancy.

    Property size:
    2,984 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a four-unit multifamily property situated in Spokane Valley, Washington, at 7314-7320 E 7th Ave, zip code 99212. The property consists of two side-by-side duplex buildings, each featuring two, two-bedroom, one-bathroom units, totaling 2,984 square feet. Built in 1942, this Class C property boasts 100% occupancy, generating a net operating income (NOI) of $3,400 annually. Each unit includes its own washer and dryer, and two units offer a bonus third room, adaptable as an office, family room, or additional bedroom. Residents enjoy ample off-street parking and individual storage units. The property is ideally located on a quiet dead-end street adjacent to Edgecliff Park, surrounded by newer construction, offering potential for rental increases. The asking price is $689,900, translating to $231.20 per square foot and $172,475 per unit. The current cap rate stands at 0.49%. This property presents a strong cash-flowing investment with significant upside potential in a desirable Spokane Valley location. The courtyard between the buildings adds to the appeal.

    Property Features for 7314 7Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,984 SF
    Class
    C

    Building Details

    Year Built
    1942
    Stories
    1
    Units
    4

    HighLights

    • $689,900 asking price for a four‑unit multifamily property.
    • Located at 7314 E 7th Ave, Spokane Valley, WA 99212.
    • Class C property built in 1942, totaling 2,984 square feet.
    • Four units, each with two bedrooms and one bathroom, currently 100% occupied.
    • $3,400 Net Operating Income (NOI) generating a 0.49% cap rate.
    • $172,475 per unit price.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.30588226357
    Latitude
    47.650531457589

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit rental portfolio, high occupancy.
    Where is this multifamily property located?
    The property is located at 7314 7Th Ave Spokane Valley, WA.
    What is the asking price?
    The asking price for this property is $689,900.
    What are key features of this property?
    This property features: $689,900 asking price for a four-unit multifamily property.; Located at 7314 E 7th Ave, Spokane Valley, WA 99212.; Class C property built in 1942, totaling 2,984 square feet.
    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
    7314 7Th Ave Spokane Valley, WA 99212
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