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Listed by Eric Peterson • Keller Williams Spokane - Main
$10,850,000
Est. payment /mo
42,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 42,000 sqft
Price per Sqft $258
MLS Listing ID 202615194
Year Built 2026
Lot Size 0.950 Acres
Lot Dimensions 0.95
Property Sub-Type Commercial
Property Description
New Construction "42 Unit - Mason Apartment Complex" on nearly an Acre Site! There are 36 - 2 Bedroom/2 Bathroom Units and 6 - 1 Bedroom/1 Bathroom Units. Each Unit will be well appointed to include Hard Surface Countertops, Laminate Flooring, 10' Ceilings and Primary Bedrooms have Walk-in Closets. All Units have Mini-splits or PTAC units for Heating & Cooling, full appliance packages including washer and dryer, and each unit also has a Private Patio or Deck. There are 85 Parking Spots (with 12 EV Stalls) and the Security Gate is Roughed-in for the Parking Lot – Asphalt is done and parking lines painted! RENT STUDY - 1 Bed/1 Bath Units (6 total) at $1,350.00 each and 2 Bed/2 Bath (36 total) at $1,825.00 each for a monthly estimate of $73,800.00. Annual Total Income - $885,600.00. Total Annual Expenses (estimated) are $243,008.00 and the NOI - $624,879.00. Approximate Completion Date is July 2026.
Location
State WA
County Spokane
Rooms
Basement None
Interior
Heating See Remarks
Cooling Other
Exterior
View Y/N true
View City
Roof Type Composition
Building
Lot Description Level, City Bus (w/in 6 blks), Oversized Lot, Common Grounds
Story 3
Structure Type Masonite
Schools
Elementary Schools Opportunity
Middle Schools North Pines
High Schools Central Valley
School District Central Valley
Others
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
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