17918 Alki Ave Spokane Valley, WA 99016

Property Details for 17918 Alki Ave

Year built

2018

Property size

2,337 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a custom-built duplex in Spokane Valley, WA, boasting a 5.26% cap rate and a strong NOI of $38,169. The property, built in 2018, comprises two units, each offering 1,168.5 square feet of living space, for a total of 2,337 square feet. Each unit features a desirable open floor plan, seamlessly connecting the living, dining, and kitchen areas. The kitchens are generously sized, equipped with ample upper and lower cabinets, stainless steel appliances (including a freestanding stove, microwave, dishwasher, and refrigerator), and patio access to a private fenced backyard complete with a sprinkler system. Three spacious bedrooms are included in each unit, one designated as a primary en-suite with a bathtub and a separate walk-in tiled shower. Modern conveniences include an electric forced air heat pump and A/C in each unit, oversized hallways and doors, and a stackable washer and dryer. A significant advantage is the attached, finished, and heated one-car garage, providing valuable parking and storage. The property sits on an 11,101 square foot lot and is currently 100% occupied, generating a price per unit of $362,500 and an asking price of $725,000. This turnkey investment offers immediate cash flow and significant potential for long-term appreciation in the Spokane Valley market. The property's location in Spokane County, WA, zip code 99016, at 17918 E Alki Ave, ensures easy access to local amenities and transportation.