12002 E Valleyway Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
12002 E Valleyway Ave
16 Unit Block of Flats £2,416,607 (£151,038/Unit) 4.29% Net Initial Yield Spokane, WA 99206
Investment Highlights
- Great Curb Appeal
- In unit washer/dryer
- 12 Ground Floor Units
- 16 Garages currently included in the rent
Executive Summary
Rents are way under market for this gem of a property in the heart of the Spokane Valley! All units include a full complement of appliances including in unit washer and dryer. 16 garages plus ample uncovered, off street parking. Mature landscaping attracts and retains residents. Built in 1993, the units haven't been updated but have wonderful layouts and 12 of the 16 units are ground floor. Room to raise rents, convert residents to RUBS and charge for garages. Seller financing offered at 20% down, 5.5% interest only for approximately five years. Seller to approve the buyer. Well located with close proximity to all services along Sprague Ave and easy access to I-90 via Pines.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£227,430
|
£14.21
|
| Other Income |
£11,410
|
£0.71
|
| Vacancy Loss |
£9,842
|
£0.62
|
| Effective Gross Income |
£228,998
|
£14.31
|
| Taxes |
£21,678
|
£1.35
|
| Operating Expenses |
£45,838
|
£2.86
|
| Total Expenses |
£67,516
|
£4.22
|
| Net Operating Income |
£161,482
|
£10.09
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £227,430 |
| Annual Per SF | £14.21 |
| Other Income | |
|---|---|
| Annual | £11,410 |
| Annual Per SF | £0.71 |
| Vacancy Loss | |
|---|---|
| Annual | £9,842 |
| Annual Per SF | £0.62 |
| Effective Gross Income | |
|---|---|
| Annual | £228,998 |
| Annual Per SF | £14.31 |
| Taxes | |
|---|---|
| Annual | £21,678 |
| Annual Per SF | £1.35 |
| Operating Expenses | |
|---|---|
| Annual | £45,838 |
| Annual Per SF | £2.86 |
| Total Expenses | |
|---|---|
| Annual | £67,516 |
| Annual Per SF | £4.22 |
| Net Operating Income | |
|---|---|
| Annual | £161,482 |
| Annual Per SF | £10.09 |
Property Facts Under Contract
| Price | £2,416,607 | Apartment Style | Low Rise |
| Price Per Unit | £151,038 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.35 AC |
| Net Initial Yield | 4.29% | Building Size | 16,000 SF |
| Gross Rent Multiplier | 16.2 | Average Occupancy | 100% |
| No. Units | 16 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1993 |
| Property Subtype | Apartment | Parking Ratio | 2.19/1,000 SF |
| Price | £2,416,607 |
| Price Per Unit | £151,038 |
| Sale Type | Investment |
| Net Initial Yield | 4.29% |
| Gross Rent Multiplier | 16.2 |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.35 AC |
| Building Size | 16,000 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1993 |
| Parking Ratio | 2.19/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 16 | - | 970 - 1,000 |
1 of 1
PROPERTY TAXES
| Parcel Number | 45164.0335 | Total Assessment | £2,039,141 |
| Land Assessment | £186,824 | Annual Taxes | £21,678 (£1.35/sf) |
| Improvements Assessment | £1,852,318 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
45164.0335
Land Assessment
£186,824
Improvements Assessment
£1,852,318
Total Assessment
£2,039,141
Annual Taxes
£21,678 (£1.35/sf)
Tax Year
2024
zoning
| Zoning Code | MF-1 |
| MF-1 |
1 of 8
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
12002 E Valleyway Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.