421 Mckinnon Rd Spokane Valley, WA 99212

This exceptional value-add investment opportunity presents a partially completed 24-unit apartment building in Spokane Valley, WA. Priced at $3,400,000, this Class A property boasts 25,572 square feet of net rentable space across two three-story buildings situated on a 0.99-acre lot (APN 35231.1437). The project, currently 75% building and 85% site work complete, offers a significant upside for a builder-contractor buyer. The property features twelve 2-bedroom/2-bathroom units (876 sq ft each) and twelve 3-bedroom/2-bathroom units (1,255 sq ft each), distributed evenly between the two buildings. With an estimated $1,000,000 to $1,200,000 remaining to complete construction, the projected stabilized value upon completion is estimated at $6,500,000 or more. The property is zoned MFR and offers a compelling 5.75% cap rate based on the asking price. This is a unique chance to acquire a nearly finished multifamily project in a desirable location, offering substantial potential for profit upon completion. The seller/contractor is open to contracting to finish the project as the general contractor. The property is being sold as-is. This represents a rare opportunity to acquire a high-potential asset at a significantly discounted price.