Commercial · Spokane Valley, WA

11802 E Main Ave, Spokane Valley, WA 99206

$10,500,000 Active MLS® 202615194 Commercial
Return to results
ActiveMLS® 202615194
$10,500,000
11802 E Main Ave, Spokane Valley, WA 99206
Bds Ba 42,000 Sq.Ft. 0.95 Ac
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 to 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.

Interior Features
  • Additional features
  • Utilities
  • Air conditioning Other
  • Basement description None
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.95
  • Lot description Level, City Bus (w/in 6 blks), Oversized Lot, Common Grounds
Exterior Features
  • Body of water
  • View City
  • Pool
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.95
  • Lot description Level, City Bus (w/in 6 blks), Oversized Lot, Common Grounds
  • Foundation
  • Exterior
  • Roofing materials Composition
Location