7314 7Th AveSpokane Valley, WA 99212

Property Details for 7314 7Th Ave

Year built

1942

Property size (Sq ft)

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.

Location Insight

City

Spokane Valley

County

Spokane

State

Washington

Latitude

47.6505

Longitude

-117.306

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