701 S. Felts Road Buildings A&B | 701 S Felts Rd
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701 S. Felts Road Buildings A&B 701 S Felts Rd
7 Unit Apartment Building $3,678,205 CAD ($525,458 CAD/Unit) 5.80% Cap Rate Spokane Valley, WA 99206
Executive Summary
BRAND NEW 7-unit multifamily property in a quiet Spokane Valley neighborhood! One 4-plex and a triplex make up the seven units, with each unit offering 3 bedrooms, 2.5 baths, and 1455 s.f. of living space. The modern design features many upgrades including stainless appliance package, durable LVP flooring, white shaker cabinetry w/ soft close drawers, and granite counters throughout. The excellent location and luxury feel of the units is sure to attract high quality tenants. One unit is fully furnished and grossing $3300/moas an Airbnb. Each unit has an attached 1-car garage, and there are three additional detached garages for extra income potential.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$267,297
|
$26.24
|
| Other Income |
$29,256
|
$2.87
|
| Vacancy Loss |
$14,828
|
$1.46
|
| Effective Gross Income |
$281,725
|
$27.66
|
| Taxes |
$21,793
|
$2.14
|
| Operating Expenses |
$46,103
|
$4.53
|
| Total Expenses |
$67,896
|
$6.67
|
| Net Operating Income |
$213,829
|
$20.99
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $267,297 |
| Annual Per SF | $26.24 |
| Other Income (CAD) | |
|---|---|
| Annual | $29,256 |
| Annual Per SF | $2.87 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,828 |
| Annual Per SF | $1.46 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $281,725 |
| Annual Per SF | $27.66 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,793 |
| Annual Per SF | $2.14 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $46,103 |
| Annual Per SF | $4.53 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $67,896 |
| Annual Per SF | $6.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $213,829 |
| Annual Per SF | $20.99 |
Property Facts
| Price | $3,678,205 CAD | Property Subtype | Apartment |
| Price Per Unit | $525,458 CAD | Apartment Style | Townhome |
| Sale Type | Investment | Lot Size | 0.65 AC |
| Cap Rate | 5.80% | Building Size | 10,185 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Price | $3,678,205 CAD |
| Price Per Unit | $525,458 CAD |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Lot Size | 0.65 AC |
| Building Size | 10,185 SF |
| No. Stories | 2 |
| Year Built | 2024 |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 7 | $3,182 CAD | 1,455 |
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Seth Maefsky -
Keller Williams Realty Inc
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701 S. Felts Road Buildings A&B | 701 S Felts Rd
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