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1802 W 8th Ave
Spokane, WA 99204
Cannon House · Multifamily Property For Sale
·
6 Units
PROPERTY FACTS
| No. Units | 6 | Building Size | 5,445 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1907/2007 |
| Building Class | B | Parking Ratio | 1.84/1,000 SF |
| Lot Size | 0.23 AC | ||
| Zoning | RMF | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 5,445 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1907/2007 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | RMF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Wi-Fi
- Yard
- Lawn
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Corporate Suites
- Furnished Units Available
- Maid Service
- Smoke Free
- Trash Pickup - Curbside
- Wi-Fi
ABOUT 1802 W 8TH AVE , SPOKANE, WA 99204
Cannon House was originally built in 1907 with a detached, poured in place concrete garage added in 1959. Around 2007 the property was purchased, converted to 6 units and completely rehabilitated. The rehabilitation included new heating and cooling units, separate utility meters for each unit, new electrical wiring, new plumbing, new roof, all new fixtures, new drywall, new flooring, and adding a suface parking lot. With renovation complete, ownership furnished the units and rents them by the month as extended stay/corporate housing, an alternative to traditional extended stay hotels in neighboring downtown Spokane. Units are rented month to month (average tenancy is 3+/-months) with water, trash, electricity, natural gas, cable television and WiFi internet access included as well as all furnishings, appliances, linens, kitchen utensils, and the like. Each tenant has use of off-street surface parking and an enclosed garage parking space (there are three parking garages on the upper level and two tandem on the lower level). Each unit has its own electric hot water heater and mini-split ductless heat and air conditioning unit. Five of the units are accessed via a secured, common entry from the front porch on 8th Avenue and the sixth unit is accessed via its own entry from the parking area. The residential structure includes a basement with manager storage, a laundry room with coin-operated washer and dryer and an underground bomb shelter (not in use). Current monthly rates are well below the few other corporate/extended stay options in the Spokane area, many of which can run in excess of $3,000/month for a similar level of services and amenities. Landlord prefers to keep rents below, maintain full occupancy and be more selective with prospective residents. Over the past several years the only vacancy has been short periods in between tenants booked well in advance. In fact, some of the extended stay tenants have remained for as long as 4 years.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,500 | - |
| 1+1 | 5 | $1,500 | - |
PROPERTY TAXES
| Parcel Number | 25244.4516 | Improvements Assessment | $567,200 |
| Land Assessment | $100,000 | Total Assessment | $667,200 |
PROPERTY TAXES
