7314 7Th Ave Spokane Valley, WA 99212
- Residential income homes
- 2,984 SF
Current Use by Public Records
- Residential income homes
Property Details for 7314 7Th Ave
- Year built
- 1942
- Property size
- 2,984 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a four-unit multifamily property situated in Spokane Valley, Washington, at 7314-7320 E 7th Ave, zip code 99212. The property consists of two side-by-side duplex buildings, each featuring two, two-bedroom, one-bathroom units, totaling 2,984 square feet. Built in 1942, this Class C property boasts 100% occupancy, generating a net operating income (NOI) of $3,400 annually. Each unit includes its own washer and dryer, and two units offer a bonus third room, adaptable as an office, family room, or additional bedroom. Residents enjoy ample off-street parking and individual storage units. The property is ideally located on a quiet dead-end street adjacent to Edgecliff Park, surrounded by newer construction, offering potential for rental increases. The asking price is $689,900, translating to $231.20 per square foot and $172,475 per unit. The current cap rate stands at 0.49%. This property presents a strong cash-flowing investment with significant upside potential in a desirable Spokane Valley location. The courtyard between the buildings adds to the appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Spokane Valley
- County
- Spokane
- State
- Washington
- Longitude
- -117.30588226357
- Latitude
- 47.650531457589
