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!
-
0BEDS
-
0.34ACRES
-
0BATHS
-
01/2 BATHS
-
5,040SQFT
-
$184$/SQFT
School Information
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!
© 2025 of Spokane Association of REALTORS® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2025-05-23T23:20:57.21.