2101 Mallon AveSpokane, WA 99201

This Spokane, WA duplex, located at 2101 W Mallon Ave, offers a compelling value-add investment opportunity. The property consists of two one-bedroom, one-bathroom units, totaling 1,344 square feet on a 4,074 square foot lot. Built in 1905 and renovated in 2017, the upper unit received updates in 2017. The lower unit boasts a seven-year tenant history, contributing to the current 100% occupancy rate as of July 31, 2024. The property generates a current NOI of $23,676, with a pro-forma NOI projected at $25,100, resulting in a 6.86% cap rate and a pro-forma cap rate of 7.28%. The asking price is $345,000, translating to $256.70 per square foot and $172,500 per unit. Importantly, the lot is zoned for four units, presenting significant potential for future expansion and increased revenue. This property is a rare find in the desirable Kendall Yards neighborhood, offering easy access to local amenities and a strong rental market. The property is sold as-is by the owner, Mallon Homes, LLC. The APN is 25132.0815. This is a turnkey investment ready for immediate income generation with significant upside potential.