1905 W 2nd Ave - Apartments FOR SALE


Spokane, WA 99201- Browne's Addition
$2,250,000 USD
509-494-3116
1905 W 2nd Ave, Spokane, WA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

1905 W 2nd Ave
Spokane, WA 99201
Browne's Addition


HIGHLIGHTS

  • Well-maintained, prime value-add opportunity
  • Large floorplans with additional dens & bonus rooms
  • Opportunity to increase rents 17% as-is and 29% with renovations
  • Located in one of Spokane's most desirable neighborhoods of Brownes Addition
  • Ample on-site parking
  • Opportunity to purchase as a 56-unit portfolio with ownership's neighboring buildings, The Oak & Espanola Annex

OVERVIEW

This well-maintained property features large floorplans with dens and bonus rooms, offering a 17% rent upside as-is and up to 29% with renovations. Located in one of Spokane’s most desirable neighborhoods, it provides ample on-site parking and is within walking distance to multiple bus stops. Buyers also have the rare opportunity to acquire a 56-unit portfolio by including the neighboring Oak and Espanola Annex properties.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

21

PRICE/UNIT

$107,143

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Espanola Elm Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1907

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

MF

APN/PARCEL ID

25241.2101

ASK ABOUT THIS PROPERTY

Max FrameKidder MathewsMore Info
509-494-3116

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Max FrameKidder MathewsMore Info
509-494-3116

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