1102 W 6th Ave - Apartments FOR SALE


Spokane, WA 99204
$1,100,000 USD
509-462-9304
1102 W 6th Ave, Spokane, WA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/16
null | 5.92% Cap Rate

1102 W 6th Ave
Spokane, WA 99204


HIGHLIGHTS

  • Completely Updated 2023
  • Amazing City Views
  • Seven New Detached Oversize Garages
  • In Unit Washer/Dryer
  • Outstanding Location

OVERVIEW

Completely updated mid century modern six unit apartment with views overlooking the downtown Spokane skyline! 2 - 2br/1ba and 4 - studio units. Currently leased as furnished rentals, it is set up as an ideal Airbnb for an owner/operator or conversion to non furnished apartment rentals. Each unit has LVP flooring, new cabinets and appliances and an in unit washer/dryer. Additionally, the lower level has a storage/laundry room suitable for Airbnb janitorial and there are seven new garages below the units. Current rents in the proforma are estimated, unfurnished rental rates. Current furnished rents range from $1,400 - $,2000/m. Unfurnished rent comparisons are below the new 508 West property that was redeveloped at 6th Ave and Stevens Street. The existing furnishings could be negotiated to purchase or removed prior to closing. (subject to existing tenancies)

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$252 USD /SF

# OF UNITS

6

PRICE/UNIT

$183,333

CAP RATE

5.92%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Historic Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

OR-150

APN/PARCEL ID

35192.4306

ASK ABOUT THIS PROPERTY

Jay OverholserSDS Realty, Inc.More Info
509-462-9304

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Jay OverholserSDS Realty, Inc.More Info
509-462-9304

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