HIGHLIGHTS
- Recent capital improvements include fully furnished bedrooms, upgraded copper electrical wiring, a newer asphalt shingle roof, and double pane windows
- Prime Logan neighborhood location within walking distance of Gonzaga University, downtown Spokane, shopping, dining, and major employers.
- All bedrooms and common areas are fully furnished, allowing for seamless leasing and making this a turnkey investment.
- Strong Tenant Demand – Affordable by the room housing attracts a stable tenant base primarily consisting of students.
- Residential Utility Billing – Residential utility rates reduce operating expenses and enhance NOI.
OVERVIEW
SVN Cornerstone is pleased to present the Villa Maria Apartments for sale located at 418 E Mission Ave in Spokane's Logan neighborhood. The Villa Maria Apartments consist of a 15 bedroom shared housing residence with five bathrooms. The property features a large shared kitchen, furnished common living areas, a common laundry room with two washers and two dryers, and five off street parking spaces.
FOR SALE DETAILS
PRICE
$1,050,000 USD
PRICE/SF
$175 USD /SF
# OF UNITS
15
PRICE/UNIT
$70,000
CAP RATE
7.05%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Villa Maria Apartments
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1905
PARKING SPACES
5
LAND DETAILS
LAND ACRES
0.16 AC
LAND SF
6,970 SF
ZONING
RSF
APN/PARCEL ID
35172.0303
ASK ABOUT THIS PROPERTY
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509-496-6922
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