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Listed by Jordan Lester • SVN Cornerstone
$1,900,000
Est. payment /mo
0.39 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Residential Income
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202623781
Year Built 1977
Lot Size 0.390 Acres
Lot Dimensions 0.39
Property Sub-Type Residential Income
Property Description
SVN Cornerstone is pleased to present Sharp Apartments, a 16-unit multifamily investment opportunity in Spokane, Washington. Originally constructed in 1977, the property offers a well-maintained apartment community with stable in-place cash flow and attractive value-add potential. The unit mix consists of twelve 1-bed, 1-bath units averaging 576 square feet and four 2-bed, 1-bath units averaging 720 square feet. 12 of the 16 units have already been renovated, with the remaining four offered in classic condition. All units feature in-wall air conditioning, baseboard heat, dishwashers and ample closet space, and the property offers onsite laundry and covered parking at the rear. Offered at $1,900,000 ($118,750 per unit / $194 per NRSF), Sharp Apartments generates a 5.77% in-place capitalization rate at 100% occupancy, demonstrating strong tenant demand and operational stability.
Location
State WA
County Spokane
Rooms
Basement None
Interior
Heating Baseboard
Cooling Wall Unit(s)
Appliance Dishwasher
Exterior
Parking Features Carport
Carport Spaces 4
Amenities Available Laundry
View Y/N true
Roof Type Composition
Building
Lot Description Fencing, Treed, Level
Story 3
Structure Type Wood Siding
Schools
Elementary Schools Homes
Middle Schools Yasuhara
High Schools North Central
School District Spokane Dist 81
Others
Acceptable Financing Cash, Commercial
Listing Terms Cash, Commercial
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