15917 E Sprague Ave
Spokane Valley WA 99037
Parc Sprague Apartments
15917 E Sprague Ave Spokane Valley WA 99037
Listing #: 677376 | Status: Pending | Last Modified: 4/4/2024 |
For Sale
- Phone:(206) 612-2475
- Email:tsmith@northmarq.com
- Office Name:Northmarq Commercial, LLC
- Office Phone:(425) 454-8699
- Office Website:
- Agent Phone:(206) 321-8344
- Agent Email:jkinkopf@northmarq.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 6,160,000.0
- $/SF$ 179.7
- $/Unit$ 110,000.0
- Listing StatusPending
- Days on Market96
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income0
- Vacancy Factor %0.00%
- Operating Expenses0
- Net Operating Income0
- CAP Rate 6.01 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units56
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Building StatusExisting
- # of Buildings4
- # of Floors1
- # of Units56
- # of Elevators
- A/CYes
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF39245
- Net Rentable Area34272
- Total Office SF
- Largest Contiguous SF
- Lot SF101059
- Acres2.32
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountySpokane
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaSpokane Valley
- Tax ID #45133.1550
- Additional Parcels
- ZoningCMU
- # Covered Spaces0
- # Uncovered Spaces0
- Total Parking Spots0
- Parking Ratio
- Year Built1979
- Year Renovated2018
- Completion Date
- Roof TypeComp Shingle
- Construction TypeWood
Parc Sprague Apartments
Northmarq is pleased to introduce Parc Sprague, a 56-unit multifamily property located in Spokane Valley. The property comprises a mix of one-bedroom and two-bedroom units, with a majority of the units undergoing minor to full renovations. A compelling opportunity exists for an astute investor to renovate the remaining classic units and realize an additional 29% in rental income. Parc Sprague consists of four buildings arranged in a square around a serene grassy area featuring a swimming pool, gazebo, playground, and clubhouse. Ample parking surrounds the buildings, providing a parking ratio of 1.94 spaces per unit. Parc Sprague presents an excellent value-add opportunity with an in-place 6.01% cap rate, with the potential to add value through renovation to stabilize at a 7.85% cap on cos
This 56 unit property is in great shape. In a convenient location in Spokane Valley, WA. There is a common laundry, pool, playset, BBQ area and a parklike setting. The interiors of the unit have been upgraded.