Investment Real Estate - Spokane, Washington - Property Detail

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Northwest Blvd & Grace Avenue

https://www.josephbernard.net/northwest-blvd--grace-avenue

Address:: 2214 & 2302 W Northwest Blvd & 2208 W Grace Avenue, Spokane, Washington 99205

Price:: $800,000

Units:: 9

Price per unit:: $88,889

Cap Rate:: 5.28%

Year Built:: 1931-1939

Highlights

Value-add opportunity
Long-term tenants
Garages provide additional income
On-site laundry facilities
Walking distance to parks and shopping
Close to college campuses
Three tax lots

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Northwest Blvd & Grace Avenue

Summary

Value-add opportunity with below market rents and long-term tenants. The property is located in the Downriver neighborhood, 1/2 mile from Spokane Falls Community College and 2 miles to Gonzaga University. Amenities include on-site laundry, storage, parking, and garage access. Situated on 3 tax lots, unit mix includes (six) 1 bedroom, (two) 2 bedroom, and a 3 bedroom/2 bath single family home.