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1818 W 8th Ave 10 Unit Apartment Building $1,300,000 ($130,000/Unit) 7.28% Cap Rate Spokane, WA 99204
INVESTMENT HIGHLIGHTS
- 8 - 1 Bed Units, 1- 3 Bed Unit, 1- 2 Bed Unit
- 7 Garages for Extra Income
- Rental Income of $11,816/Month
EXECUTIVE SUMMARY
From the front, this classic 120-year-old gem showcases timeless old-world charm with hardwood floors, a masonry fireplace, chandeliers, and spacious rooms. In the back, you’ll find modern apartments with ideal floor plans and extra storage. Tenants here tend to stay long-term, thanks to the comfortable, home-like feel these apartments offer.
Previously, floor plans were drawn for two additional medium-sized ground-level units, featuring egress windows and partial plumbing, gas, and electrical—some of which are already in a finished space. This area is now primed for potential development.
The property also includes additional potential rental income of $750/month from 7.5 garage stalls currently rented as mini-storage.
Previously, floor plans were drawn for two additional medium-sized ground-level units, featuring egress windows and partial plumbing, gas, and electrical—some of which are already in a finished space. This area is now primed for potential development.
The property also includes additional potential rental income of $750/month from 7.5 garage stalls currently rented as mini-storage.
PROPERTY FACTS Under Contract
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $130,000 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 10,548 SF |
| Cap Rate | 7.28% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RMF | ||
| Price | $1,300,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| Cap Rate | 7.28% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 10,548 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1910 |
| Opportunity Zone |
Yes |
| Zoning | RMF |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 3+2 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 25244.4511 | Improvements Assessment | $1,161,300 |
| Land Assessment | $106,500 | Total Assessment | $1,267,800 |
PROPERTY TAXES
Parcel Number
25244.4511
Land Assessment
$106,500
Improvements Assessment
$1,161,300
Total Assessment
$1,267,800
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1818 W 8th Ave
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