11802 E Main Ave, Spokane Valley, WA 99206

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.