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1332 W Garland Ave
Spokane, WA 99205
Multifamily Property For Sale
·
9 Units
Investment Highlights
- Stabilized triplex portfolio on three separate parcels
- Remaining value-add upside by completing the remaining 3 units
- 6 of 9 units renovated and major CapEx completed, including roofs and windows
- Garland District location provides historic amenities and a walkable neighborhood
Executive Summary
3906-3912 N Cedar St & 1332-1336 W Garland Ave offers three triplexes on three parcels in Spokane’s Garland District. The 9-unit portfolio has already benefited from meaningful ownership investment, including renovated interiors in 6 of 9 units, and major CapEx such as new roofs and windows. With stabilized performance and proven rent growth on renovated units, the portfolio offers dependable in-place income with additional upside remaining.
The remaining upside is straightforward and achievable. As long-term tenants naturally vacate, select units can be renovated to match the quality of the completed interiors, allowing rents to continue moving toward proven renovated-unit levels. This creates a clear path to incremental cash flow growth while preserving the portfolio’s stabilized performance.
The remaining upside is straightforward and achievable. As long-term tenants naturally vacate, select units can be renovated to match the quality of the completed interiors, allowing rents to continue moving toward proven renovated-unit levels. This creates a clear path to incremental cash flow growth while preserving the portfolio’s stabilized performance.
Property Facts
| Price Per Unit | $144,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 6.04% | Building Size | 10,133 SF |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Zoning | RMF | ||
| Price Per Unit | $144,444 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 10,133 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RMF |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Refrigerator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 570 |
| 2+1 | 6 | - | 810 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $930,600 | |
| Land Assessment | $230,000 | Total Assessment | $1,160,600 |
Property Taxes
Parcel Numbers
Land Assessment
$230,000
Improvements Assessment
$930,600
Total Assessment
$1,160,600
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