Get ready to elevate your investment portfolio with this exceptional Multi-Family property located at 400 S Farr Rd. Nestled in a prime location, this property offers a lucrative opportunity for savvy investors seeking high returns on investment.
The current vacancy rates for apartment buildings in Spokane is 1.3% based on a Spring 2018 survey by the Washington State Runstad Department of Real Estate. The vacancy rate has remained below 2% for several years. Spokane Valley and South Spokane have the lowest vacancy rate for apartment buildings these days.
Boasting a strategic location, this property is a magnet for tenants, ensuring a steady stream of rental income. With its proximity to key amenities, schools, and transportation hubs, this property presents a compelling investment proposition for those looking to maximize their ROI.
This property is a cash flow machine waiting to be tapped into. With a strong rental history and high demand for multi-family units in the area, you can rest assured that your investment will yield impressive returns. Don't miss out on the chance to capitalize on this income-generating gem.
All of this means that the local real estate market is doing well. Multi-family properties in these areas are highly demanded and provide real estate buyers with a good income potential and great investment opportunities.
The potential for growth and appreciation with this property is unparalleled. As the real estate market in the area continues to thrive, investing in this Multi-Family property is not just a smart financial move but also a promising long-term asset. Watch your investment flourish as property values soar in this sought-after location.
Seize the opportunity to secure your financial future with this Multi-Family property. Whether you're a seasoned investor or a newcomer to the real estate game, this property offers the perfect blend of location, income potential, and growth prospects. Make a wise investment choice today and reap the rewards for years to come.
Compelling growth equals opportunity
The City of Spokane Valley has a population of about 107,000. The Spokane-Spokane Valley Metropolitan Statistical Area (MSA) has a population of about 593,466 (July 2021).
Spokane Valley is also a border community with Coeur d'Alene, Idaho. The Coeur d'Alene MSA as of 2022 is 183,578, bring the total combined population in the Spokane-Coeur d'Alene corridor to more than 775,000 people.
Spokane Valley host 43,000 households with an average household annual income of $69,800 (March 2021). The city is home to a labor force of more than 51,000.
Rent Averages
Spokane Journal article on June 24, 2024: The average rent for all types of apartments is $1,289 per month, the research report states. One-bedroom apartment rents average $1,099, up 1.3% from the first quarter of 2023. The average rent for two-bedroom units has increased 2% to $1,332.
Rent Averages
Spokane Journal article on June 24, 2024: The average rent for all types of apartments is $1,289 per month, the research report states. One-bedroom apartment rents average $1,099, up 1.3% from the first quarter of 2023. The average rent for two-bedroom units has increased 2% to $1,332.
