1911 W 2nd Ave - Apartments FOR SALE


Spokane, WA 99201- Browne's Addition
$425,000 USD
509-494-3116
1911 W 2nd Ave, Spokane, WA for Sale
$425,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

1911 W 2nd Ave
Spokane, WA 99201
Browne's Addition


HIGHLIGHTS

  • Well-maintained, prime value-add opportunity in one of Spokane's premier neighborhoods of Brownes Addition
  • Ability to acquire residential financing as an owner-occupant
  • Increase rents 28% as-is and 43% with renovations
  • Recent upgrades & replacements to the furnace, electrical panels, and roof
  • Future development opportunity
  • Ample on-site parking and within walking distance to city transit

OVERVIEW

Well-maintained, prime value-add opportunity. With the ability to acquire residential financing as an owner-user operator, investors can benefit from more favorable loan terms while capitalizing on a 28% rent increase as-is and up to 43% through renovations. Major system upgrades—including updated electrical panels, roof, and furnace—limit near-term capital expenditures. Located in one of Spokane’s most desirable neighborhoods, the property features ample on-site parking, excellent transit access, and potential for future development. Buyers can also scale their investment by acquiring the adjacent Oak and Espanola Annex properties, creating a unique 56-unit portfolio opportunity.

FOR SALE DETAILS

PRICE

$425,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

4

PRICE/UNIT

$106,250

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Espanola Annex

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,741 SF

ZONING

MF

APN/PARCEL ID

25241.2102

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.