457 6Th AveColville, WA 99114

Property Details for 457 6Th Ave

Year built

1910

Lot size

0.17 AC

Property size (Sq ft)

2,775 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

90000

APU

90000

Description

This exceptional investment opportunity presents a meticulously renovated six-unit multifamily property situated in the heart of Colville, Washington. Built in 1910 and completely renovated in 2024, this charming two-story building boasts 3,174 square feet of net rentable space on a 0.16-acre lot. The property features six one-bedroom, one-bathroom units, each designed for comfortable living. Residents enjoy a shared community yard perfect for summer gatherings, along with a convenient on-site coin-operated washer and dryer, and ample parking. Currently operating at 100% occupancy, this property generates a substantial net operating income (NOI) of $58,800, resulting in an attractive 6.90% capitalization rate. The asking price is $545,000, translating to $90,833.33 per unit. Located at 457 E 6th Ave, Colville, WA 99114, this property offers stunning mountain views and is zoned for residential use. Seller financing is negotiable, making this an even more compelling proposition for discerning investors. The strong rental history and high occupancy rate make this a low-risk, high-reward investment opportunity. Don't miss the chance to acquire this turnkey multifamily property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $673,162

  6.5%

  $621,380

  7%

  $576,996

• Comparable approach

  Method

  Valuation

  Relative Method

  $917,070

  Geo Method

  $917,070

• Alternative Use

  Use

  Valuation

  Residential

  $621,380

  Hospitality

  $569,181

  Educational

  $473,552

  Medical

  $489,838

  Retail

  $736,636

Location Insight

City

Colville

County

Stevens

State

Washington

Latitude

48.5498

Longitude

-117.9

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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