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2009 South Grand Boulevard 2009 S Grand Blvd 8 Unit Apartment Building $1,890,000 ($236,250/Unit) 5.08% Cap Rate Spokane, WA 99203
Investment Highlights
- Across from Manito Park
- Contemporary Finishes
- Minutes from Spokane's Medical District
Executive Summary
This well-maintained 8-unit multifamily property offers a strong investment opportunity with 7,528 SF of building space, constructed in 2011. The property features eight spacious 2-bedroom, 1.5-bath units, each equipped with an in-unit washer and dryer, covered parking, and contemporary finishes. Generating approximately $12,033 in monthly gross income and $95,970.95 in annual NOI, the property offers a 5.08% cap rate. Ideally located directly across from Manito Park and just minutes from Spokane’s Medical District, this property combines desirable tenant amenities with a convenient location in one of Spokane’s established neighborhoods.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,890,000 | Apartment Style | Garden |
| Price Per Unit | $236,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 5.08% | Building Size | 7,528 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2011 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Zoning | Residential - Residential 1 (R1) | ||
| Price | $1,890,000 |
| Price Per Unit | $236,250 |
| Sale Type | Investment |
| Cap Rate | 5.08% |
| 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 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | Residential - Residential 1 (R1) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 8 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 35292.1705 | Improvements Assessment | $1,272,100 (2026) |
| Land Assessment | $251,360 (2026) | Total Assessment | $1,523,460 (2026) |
Property Taxes
Parcel Number
35292.1705
Land Assessment
$251,360 (2026)
Improvements Assessment
$1,272,100 (2026)
Total Assessment
$1,523,460 (2026)
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