2411 N Cincinnati St - Apartments FOR SALE


Spokane, WA 99207- Logan
$1,350,000 USD
509-688-5014
2411 N Cincinnati St, Spokane, WA for Sale
$1,350,000 USD
Apartments - FOR SALE
1/21
null | 6.59% Cap Rate

2411 N Cincinnati St
Spokane, WA 99207
Logan


HIGHLIGHTS

  • Residential Financing Due to 2 separate parcels
  • 5/8 Units Completely Remodeled
  • Newer Roof, Siding, and Exterior Paint

OVERVIEW

Rare opportunity to own two fully rented fourplexes (8 units total) in Spokane’s highly desirable Gonzaga District—just minutes from Gonzaga University, public transportation, and Downtown Spokane! Numbers are ran off of projected rents without updating final 3 units. These well-maintained buildings boast a combined gross income of approximately $115,000 annually, with five of the eight units fully remodeled, including the two most recent rentals bringing in $1,400/month each. All units are 2 bed / 1 bath and feature in-unit laundry, making them highly attractive to tenants along with the 8 car carport and 6 storage units. Investors will appreciate the stability and strong cash flow without the need for commercial financing. All appliances, including washers and dryers, are included in the sale, making this a truly turnkey investment. Recent improvements include new roofs on both the main complex and carport, updated siding and exterior paint. Showings available with accepted offer only. Please don't disturb tenants. Seller is a licensed real estate agent. Showings on the property can happen once we have gone under contract.Please don't disturb tenants. 2405 N Cincinnati (35081.5611) and 2411 N Cincinnati (35081.5609) have to be purchased together. Water, Sewer, Garbage total $880/month. Buyer and buyers agent to verify all information. Seller is a licensed real estate agent in Wa/Id. Please reach out to Shane O'Rourke at 509-279-3250

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

8

PRICE/UNIT

$168,750

CAP RATE

6.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

Multi-Family

APN/PARCEL ID

35081.5609,35081.5611

ASK ABOUT THIS PROPERTY

Spencer MillsapReal Broker, LLCMore Info
509-688-5014

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Spencer MillsapReal Broker, LLCMore Info
509-688-5014

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