5312 E Union Ave, Spokane, WA 99207
- 5,040 sqft
Rental 
Built in 1912 
0.34acre lot
—— car garage 
$184/sqft 
Listed 2 months ago
Property Description
Pleased to present the Union Apartments for sale. A low-maintenance, value-add apartment building with strong upside potential. The property includes eight 1-BD/1BA units, onsite laundry, yard area, and dedicated parking for each unit plus additional street parking. Competitive price point at $115,625 per unit with a 6.18% cap rate. This asset outperforms market comps with an average of $128,073 per unit and 6.07% cap rate. Upside potential, opportunity to increase rents by 4.8% to market rates with as-is unit interiors offering strong immediate and long term income potential w/ 6.62% pro forma cap rat. Located in Chief Garry Park, this property offers quick access to Downtown Spokane and Feltz field, making it a desirable rental spot. Valuable amenities include onsite laundry and dedicated parking for each unit to enhance tenant satisfaction & retention. 1BD/1BA units are in strong demand, appealing to singles, couples, and professionals which supports steady occupancy and income!
- Listing Status:
- Active
- Listing Office:
- Windermere Manito, LLC : (509) 216-2222
- Listing Agent:
- Jim Lister : (509) 216-2222
- MLS ID:
- 202515656
- Basement: None
- A/C: Other
- Heating: See Remarks
This listing courtesy of Jim Lister, Windermere Manito, LLC
Location
Schools Nearby
Orchard Center Elementary School
7519 E Buckeye Ave, Spokane Valley, WA, 99212
Grades 1-5
1.43 miles away
Centennial Middle School
915 N Ella Rd, Spokane Valley, WA, 99212
Grades 6-8
1.62 miles away
West Valley High School
8301 E Buckeye Ave, Spokane, WA, 99212
Grades 9-12
1.87 miles away
