1414 W Tenth AVE, Spokane, WA 99204
1414 W Tenth AVE, Spokane, WA 99204
1414 W Tenth AVE, Spokane, WA 99204
1414 W Tenth AVE, Spokane, WA 99204
1414 W Tenth AVE, Spokane, WA 99204
1414 W Tenth AVE, Spokane, WA 99204
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Jesse Maddox

Jesse Maddox

+1(206) 391-6970
Listed by:The Paragon Group • Peter Clark
$ 799,000
Est. payment | /mo

9 Beds

7 Baths

7,249 SqFt

Save
$ 799,000
Est. payment | /mo
Save

9 Beds

7 Baths

7,249 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,249 sqft

Price per Sqft $110

Subdivision Spokane

MLS Listing ID 2562023

Style 55 - 5-9 Units

Bedrooms 9

Year Built 1909

Annual Tax Amount $4,993

Lot Size 7,810 Sqft

Property Sub-Type Multi Family

Property Description

Offered at $799,000, or $114,143 per unit, 10th Avenue Apartments presents a compelling cash-flow opportunity in Spokane's historic Cliff/Cannon neighborhood. The property is currently 100% occupied with high-quality tenants, providing immediate and stable income. A new lease was recently signed, bringing total monthly revenue to $7,792. At the current asking price, the property offers an 8.01% in-place cap rate, with a path to an 8.56% pro forma cap rate. Significant capital improvements have already been completed, reducing near-term capital needs for new ownership. Recent improvements include exterior paint, a new hot water heater, interior paint throughout the common areas, updates to the parking area, and more Four of the seven units have been renovated, establishing a clear improvement standard for the three remaining unrenovated units. This defined renovation scope provides new ownership with an opportunity to further improve unit quality and increase rental income without undertaking a full property repositioning. Located on the lower South Hill, the property is minutes from downtown Spokane, the Medical District, neighborhood parks, Huckleberry's Natural Market, and other South Hill amenities. Its established residential location provides convenient access to major employers, shopping, recreation, and transit, supporting continued renter demand.

Location

State WA

County Spokane

Area 561 - Spokane County

Interior

Fireplace false

Exterior

Exterior Feature Metal/Vinyl

View Y/N No

Roof Type Composition

Building

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Buyer To Verify

Middle Schools Buyer To Verify

High Schools Buyer To Verify

School District Spokane

Others

Senior Community No

Acceptable Financing Conventional

Listing Terms Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
Nearby Locations
Jesse Maddox

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(206) 391-6970

jesse.agaperegroup@gmail.com

8107 144th Dr SE,, Snohomish, Washington 9829018, USA

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1414 W Tenth AVE