2002 W 8th Ave 5 Unit Apartment Building Offered at $650,000 at a 7.46% Cap Rate Spokane, WA 99204

4 - 1 Bed/1 Bath Units & 1 - 3 Bed/1 Bath Unit
Rental Income of $5,375/Month
2 Garages for Additional Rental Income
On Site Laundry Facilities
Potential to Add Additional Units
Recent Unit Updates & Architectural Charm
Great South Hill Location Close to 1-90
This property offers individuality, uniqueness, and character. Located in Spokane’s historically upscale Lower South Hill neighborhood, this area was originally developed 120 years ago as an affluent district filled with historic homes and mansions. These homes were built during a time when craftsmanship and quality materials were highly valued.
Thanks to the lasting quality of the surrounding residences and the convenient access to downtown, this property sits in one of Spokane’s most desirable residential areas. It benefits from easy access to both East–West freeway routes and North–South corridors like Maple and Monroe.
Major employers—including Deaconess Hospital, Sacred Heart Hospital, Fairchild Air Force Base, and Downtown Spokane—are just minutes away. The property is centrally located with convenient access to major roads.
We encourage you to explore the Spokane City Crime Map to see the neighborhood firsthand. This property has minimal deferred maintenance, and it remains attractive and well cared for—something tenants take pride in.
Leases include clear rules: no parties, no loud music, and no smoking. A team of full-time maintenance staff ensures that all repairs are addressed promptly and that the property remains in excellent condition.