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Property profile & analytics
OFF-MARKET
Apartment buildings

13217 3rd Ln Spokane, WA 99216

0.53 ac lot
Entity Owned 2-yr Hold Free & Clear
Property ID
US90-0492011
Property summary
AI-generated overview

This 0.53-acre residential lot in Spokane, Washington (99216), located at 13217 E 3rd Ln, Spokane County, is perfectly situated for the construction of a twelve-unit apartment complex. Priced at $600,000, this shovel-ready property boasts all necessary frontage improvements already in place. Permits are secured and a complete plan set is included in the sale price, allowing for immediate commencement of construction upon closing. The property is currently listed as one parcel, though the possibility of acquiring a second adjacent parcel exists. This presents a unique opportunity for developers seeking a streamlined path to building a multi-family residential project. While a turnkey option with a completed 12-unit, two-bedroom, two-bathroom apartment complex is available at a separate listing, this lot offers the flexibility to utilize your own builder or leverage the existing plans and permits for a more customized approach. The property's location in Spokane offers access to a growing population and a strong rental market, making it an attractive investment opportunity. Don't miss this chance to acquire a fully permitted and prepared lot ready for immediate development.

Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Lot 0.53 ac (23,188 SF)
APN 45221.9313
UPID US90-0492011
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
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
3rd Lane Apartments LLC · 2 yrs held
3rd Lane Apartments LLC
since 2023
Last sale
$385,000
1 recorded transaction
2023
$385,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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