1414 W Tenth Avenue, Spokane, WA 99204
Courtesy of The Paragon Group
- $849,000
- 7,249
- SqFt
- List Price
- $849,000
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 2562023
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1909
- Living Area
- 7,249
- Lot Size
- 7,810
- Acres
- 0.18
- Subdivision
- Spokane
- Neighborhood
- Spokane
- Building Name
- Cannon's Add
- MLS Area Major
- Spokane County
Property Description
10th Avenue Apartments is a seven-unit multifamily property located in Spokane’s historic Cliff/Cannon neighborhood on the lower South Hill. Offered at $849,000, or $121,286 per unit, the property provides immediate income at a 7.54% in-place cap rate with a path to an 8.02% pro forma cap rate. Four units have already been renovated, establishing a clear improvement standard for the three remaining unrenovated units. This defined renovation scope gives new ownership the opportunity to improve unit quality and increase rental income without undertaking a full property repositioning. The property is minutes from downtown Spokane, the Medical District, neighborhood parks, Huckleberry’s Natural Market, and other South Hill amenities. Its established residential location provides convenient access to major employers, shopping, recreation, and transit while supporting continued renter demand.
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Additional Information
- Exterior Features
- Metal/Vinyl
- Property Description
- 55 - 5-9 Units
- Heating
- Radiator
- Air Conditioning
- None
- Roof
- Composition
- School District
- Spokane
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
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