For Sale
$2,200,000

2807 Boone Ave Spokane, WA 99202

15-Unit Apartment Building, Excellent ROI

Overview

Added:
Dec 11, 2024
Days on market:
137
This 15-unit apartment building in Spokane, Washington, presents a compelling investment opportunity. Located at 2807 E Boone Ave, Spokane, WA 99202, the property boasts a current NOI of $131,908 and a pro-forma NOI of $169,916, translating to a current cap rate of 6.00% and a pro-forma cap rate of 7.72%. The asking price is $2,200,000, or $146,667 per unit. Each unit is a spacious two-bedroom, one-bathroom apartment, approximately 850 square feet, featuring renovated interiors and a private balcony. On-site laundry adds to the convenience for residents. The property enjoys a prime location, just seven minutes from downtown Spokane's businesses and restaurants, six minutes from Gonzaga University, and four minutes from Avista Stadium. Ample parking is available. This multifamily investment offers a strong potential for both current and future income generation, making it an attractive addition to any portfolio. The property is situated in Spokane County.

Highlights

  • 15-unit apartment building in Spokane, WA, offering spacious two-bedroom, one-bathroom units (approx. 850 sq ft).
  • Six-minute drive to Gonzaga University and seven-minute drive to downtown Spokane.
  • Most units feature renovated interiors and private balconies.
  • On-site laundry and ample parking.

Property Details for 2807 Boone Ave

Property type
Apartment buildings
Units
15

Location Insight

City
Spokane
County
Spokane
State
Washington
Latitude
47.6689313
Longitude
-117.368748

FAQs

What type of property is this?
Apartment building - 15-Unit Apartment Building, Excellent ROI
Where is the apartment building located?
The property is located at 2807 Boone Ave Spokane, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 15-unit apartment building in Spokane, WA, offering spacious two-bedroom, one-bathroom units (approx. 850 sq ft).; Six-minute drive to Gonzaga University and seven-minute drive to downtown Spokane.; Most units feature renovated interiors and private balconies.
How can I contact the broker?
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2807 Boone Ave
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