Parc Sprague Apartments (Status: Pending) 6160000

15917, Sprague Ave, Spokane Valley, WA  99037

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

Listing Details

Asset Class: Multi-Family
Year Built: 1979
Building Total Square Feet: 39245
Available Lease Space Square Feet: 38345
Number of Floors: 1
Total Parking Spaces: 0
Local Zoning Information: CMU

Listing Courtesy of: Northmarq Commercial, LLC

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.