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Montrose on the Park 2009 S Grand Blvd 8 Unit Apartment Building $2,500,000 ($312,500/Unit) Spokane, WA 99203
Executive Summary
Executive Housing | Short Term Rental Opportunity
Montrose on the Park presents a short term rental opportunity to provide significant rental upside immediately, a rare asset in Spokane’s premier South Hill neighborhood. Currently operating as a fully leased long-term rental income property with below market rents. Located directly across from Manito Park, this four-building community, built in 2011, spans ±7,528 square feet on a ±0.36-acre parcel and includes covered parking for residents. Each of the eight thoughtfully designed units features in-suite laundry, contemporary finishes, and efficient layouts that appeal to quality-conscious renters. Situated just minutes from Spokane’s Medical District and Downtown core, the property’s
location also positions it as an exceptional candidate for short-term or medium-term rental conversion, catering to the robust sports tourism, traveling medical professionals, visiting faculty, and hospital staff seeking furnished housing close to major healthcare employers.
Montrose on the Park presents a short term rental opportunity to provide significant rental upside immediately, a rare asset in Spokane’s premier South Hill neighborhood. Currently operating as a fully leased long-term rental income property with below market rents. Located directly across from Manito Park, this four-building community, built in 2011, spans ±7,528 square feet on a ±0.36-acre parcel and includes covered parking for residents. Each of the eight thoughtfully designed units features in-suite laundry, contemporary finishes, and efficient layouts that appeal to quality-conscious renters. Situated just minutes from Spokane’s Medical District and Downtown core, the property’s
location also positions it as an exceptional candidate for short-term or medium-term rental conversion, catering to the robust sports tourism, traveling medical professionals, visiting faculty, and hospital staff seeking furnished housing close to major healthcare employers.
Property Facts
| Price | $2,500,000 | Apartment Style | Garden |
| Price Per Unit | $312,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Gross Rent Multiplier | 75 | Building Size | 7,528 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2011 |
| Property Subtype | Apartment | ||
| Zoning | Residential - Residential 1 (R1) | ||
| Price | $2,500,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Gross Rent Multiplier | 75 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.36 AC |
| Building Size | 7,528 SF |
| No. Stories | 2 |
| Year Built | 2011 |
| Zoning | Residential - Residential 1 (R1) |
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Property Taxes
| Parcel Number | 35292.1705 | Improvements Assessment | $1,435,760 |
| Land Assessment | $219,940 | Total Assessment | $1,655,700 |
Property Taxes
Parcel Number
35292.1705
Land Assessment
$219,940
Improvements Assessment
$1,435,760
Total Assessment
$1,655,700
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Montrose on the Park | 2009 S Grand Blvd
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