13218 3Rd Ln Spokane, WA 99216
- Apartment buildings
- 0.53 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 13218 3Rd Ln
- Lot size
- 0.53 lot acres
- Property type
- Apartment buildings
- APN
- 45221.9312
- APU
- 452219312
Description
This exceptional investment opportunity presents a brand-new, 12-unit apartment building poised for immediate construction in Spokane Valley, Washington. Located at 13218 E 3rd Ln, Spokane, WA 99216, this property boasts a prime location, conveniently situated near the Appleway walking trail and major retail establishments including Safeway and Target. The building, encompassing 12,157 square feet across three stories, sits on a 0.53-acre lot. All twelve units are designed as spacious two-bedroom, two-bathroom apartments, catering to a high demand market. Construction is ready to commence upon sale, eliminating the delays and expenses associated with land development and engineering. Building permits are already secured, ensuring a streamlined and efficient construction process. This turnkey project offers a unique opportunity to acquire a fully permitted, ready-to-build apartment complex, representing a significant advantage in the current market. The building is projected to be completed in 2024. This is an exceptional opportunity for investors seeking immediate returns and a strong foothold in the Spokane Valley real estate market. The asking price for the complete project is $3,000,000. A separate option to purchase the lot with permits and plans is also available for $600,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $360,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $385,000
- 6.5%
- $405,000
- 7%
- $420,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $360,000
- Geo Method
- $435,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $360,000
- Retail
- $395,000
- Mixed-Use
- $415,000
- Hospitality
- $385,000
- Educational
- $410,000
- Residential Income
- $385,000
- Energy
- $380,000
- Income-Based Land
- $385,000
- Food Service
- $340,000
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.227
- Latitude
- 47.6546
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
