10211 E Main Ave - Apartments FOR SALE


Spokane Valley, WA 99206- Dishman Hills
$5,175,000 USD
503-200-2058
10211 E Main Ave, Spokane Valley, WA for Sale
$5,175,000 USD
Apartments - FOR SALE
1/13
null | 6.56% Cap Rate

10211 E Main Ave
Spokane Valley, WA 99206
Dishman Hills


HIGHLIGHTS

  • An Exceptional Value-Add Investment with Expansion Potential
  • Immediate Upside Through Rent Growth and Operational Improvements
  • Below Market Pricing Relative to Recent Sales
  • Positioned for Long-Term Demand

OVERVIEW

For the full Offering Memorandum, please visit: https://www.marcusmillichap.com/properties/73226/brooks-square Brooks Square Apartments is a well-located, 38-unit garden-style community in Spokane Valley, Washington, offering investors a unique combination of strong in place cash flow, significant rent upside, and land for future development or amenity expansion. Built in 1972 and situated on 1.69 acres, the property features 26 one-bedroom and 12 two-bedroom units with desirable amenities, including a swimming pool, community room, landscaped grounds, and A/C in units. In-place rents at Brooks Square significantly lag behind comparable properties in the submarket. The average current rent of $1,104/unit ($1.66/SF) trails nearby communities that achieve $1,250–$1,395 for similar units, including unrenovated properties. This provides a clear and achievable path to enhanced returns through modest unit upgrades and operational improvements such as covered parking fees, storage income, and continued utility bill-back increases.

FOR SALE DETAILS

PRICE

$5,175,000 USD

PRICE/SF

$326 USD /SF

# OF UNITS

38

PRICE/UNIT

$136,184

CAP RATE

6.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brooks Square

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,621 SF

ZONING

-

APN/PARCEL ID

45174.2513

ASK ABOUT THIS PROPERTY

Georgie Christensen-RileyMarcus & MillichapMore Info
503-200-2058

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Georgie Christensen-RileyMarcus & MillichapMore Info
503-200-2058

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.