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Property profile & analytics
OFF-MARKET
Estimated value
$2,675,000
High-rise multifamily apartments
1320 3rd St Cheney, WA 99004-1852
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-1031278
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1965
Construction
STEEL FRAME
Total area
4,901 SF
Lot
0.29 ac (12,500 SF)
APN
13124.2907
UPID
US90-1031278
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$2.68M
Owner & transaction history
Jabre Ventures LLC · 2 yrs held
Jabre Ventures LLC
since 2023
Last sale
$3.0M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cheney submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheney submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,510,000
ML approach
$2,485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.68M
Range $2.41M – $2.94M · ±10% · vs last sale $3.00M (Sep 22 2023)
Last sale anchor
$3.00M
Sep 22 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$546 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,812
Tax year 2023
Assessed value
$1,174,300
Assessed 2024
Previous assessed
$635,800
+84.7% YoY
Effective rate
0.84%
On assessed value
Assessed land
$75,000
Assessed improvement
$1,099,300
Land market value
$75,000
Improvement market value
$1,099,300
Total market value
$1,174,300
Applied tax rate
110.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1965
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
12
Bathrooms
12
Total area
4,901 SF
Lot
0.29 ac (12,500 SF)
APN
13124.2907
UPID
US90-1031278
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1965
Construction
STEEL FRAME
Heating
NONE
Stories
2
Units
12
Bathrooms
12
Lot
0.29 ac
Current owner
From public records · entity-resolved
Jabre Ventures LLC
Entity
Mailing address
9927 E BELL RD STE #130, SCOTTSDALE, AZ 85260-2411
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2023
$3,000,000
Jabre Ventures LLC
Reno Nugget Apartments II LLC
Warranty Deed
$2,000,000 · Spousal Trust
Jul 19, 2023
—
Reno Nugget Apartments II LLC
Chad Johns
Quit Claim Deed
related
—
Apr 25, 2005
—
Reno Of Nugget Apartments LLC
Johns,steven M
Warranty Deed
—
Mar 15, 2005
$1,262,500
Steven M Johns
Third Street Apartment
Grant Deed
$1,010,000 · Lasalle National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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