722 N Superior St - Apartments FOR SALE


Spokane, WA 99202- U-District
$1,900,000 USD
509-570-7447
722 N Superior St, Spokane, WA for Sale
$1,900,000 USD
Apartments - FOR SALE
1/3
null | 4.48% Cap Rate

722 N Superior St
Spokane, WA 99202
U-District


HIGHLIGHTS

  • Waterfront Property
  • Modern Construction
  • Spacious Units
  • Upscale Amenities
  • Strategic Location
  • Core Spokane MSA

OVERVIEW

Marcus & Millichap has been selected to exclusively market for sale the Iron Bridge Apartments, a modern, high-end six-unit apartment building in Spokane, Washington. The 0.52-acre property sits directly along the Spokane River offering rare and highly desirable waterfront living with river views from four of the six units. Built in 2015, this turnkey property pairs exceptional contemporary craftsmanship with custom designed interiors and refined architectural detail. The building features 6 two bedroom/two-bathroom units with an average area of 1,069 square feet. Unit amenities include a dedicated single-car garage for each unit, covered deck/patio, washer and dryer, gas fireplace (in "view" units), and stainless-steel kitchen appliances including refrigerator, gas range, microhood, dishwasher, and garbage disposal. Community amenities include a private yard/patio, secure entry system, and off-street parking (5 spaces). Uniquely positioned in the vibrant University District, the property offers convenient access to Downtown Spokane and the nearby Gonzaga University and Washington State University Spokane campuses. The Iron Bridge Apartments presents a rare opportunity to acquire an income-producing waterfront asset in a core urban market. With a proven rental history, the property provides stable, consistent cash flow, while the strategic University District location underpins its long-term value. Spokane is a thriving urban metropolitan area that serves as the economic, educational, and cultural hub of the Inland Northwest. Total population estimates for the region are near 800,000 and continue to grow year-over-year.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$219 USD /SF

# OF UNITS

6

PRICE/UNIT

$316,667

CAP RATE

4.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Iron Bridge Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2015

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

CC1-EC

APN/PARCEL ID

35174.0225

ASK ABOUT THIS PROPERTY

Maxwell McDonaldMarcus & MillichapMore Info
509-570-7447

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Maxwell McDonaldMarcus & MillichapMore Info
509-570-7447

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