3001 E Upriver Dr - Apartments FOR SALE


Spokane, WA 99207- Minnehaha
$2,900,000 USD
509-494-3116
3001 E Upriver Dr, Spokane, WA for Sale
$2,900,000 USD
Apartments - FOR SALE
1/24
null | 6.64% Cap Rate

3001 E Upriver Dr
Spokane, WA 99207
Minnehaha


HIGHLIGHTS

  • Well-maintained, value-add apartment building
  • Highly desired location along the Spokane River
  • Attractive amenities including full sized sports court, covered parking, large decks, and air conditioning
  • Large layouts featuring a majority of 2-bedroom units
  • Increase rents 14% as-is and 24% with renovations
  • Ample additional land providing future development opportunity

OVERVIEW

Well-maintained and ideally situated along the highly desirable Spokane River, River Court offers immediate rental upside with the potential to increase rents by 14% as-is and up to 24% with renovations. The property features spacious, majority 2-bedoom layouts with attractive amenities including a full-sized sports court, covered parking, large decks, and air conditioning. With ample additional land, there's also a strong future development opportunity, making this an excellent investment in a growing market.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$162 USD /SF

# OF UNITS

21

PRICE/UNIT

$138,095

CAP RATE

6.64%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

River Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1979

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,485 SF

ZONING

RMF

APN/PARCEL ID

35102.3803,35102.3804,35102.3805

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 Notice.