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29th Ave Fourplex 2327 E 29th Ave 4 Unit Apartment Building $685,000 ($171,250/Unit) 5.07% Cap Rate Spokane, WA 99223
Investment Highlights
- Residential Financing – Lower down payments, longer amortization periods, and faster closings compared to typical commercial loans.
- Prime South Hill Location – Desirable Rockwood neighborhood near Manito Park, shopping, dining, downtown Spokane, and major employers.
- Proven Rental Upside – Well maintained property with covered carports, on site storage, straightforward management, and proven upside in rents.
- One month to month lease creates the potential for owner occupied financing with as little as 5% down.
- Recent Updates – Recent improvements include LVP flooring, updated kitchen cabinets, landscaping, and in unit laundry.
Executive Summary
SVN Cornerstone is pleased to present the 29th Ave Fourplex for sale located at 2327 E 29th Ave in Spokane's desirable Rockwood neighborhood. The property consists of four residential units and features numerous recent improvements, including new LVP flooring in three units, updated kitchen cabinets in two units, in unit laundry in two units, and enhanced landscaping. The property offers investors a well maintained asset in one of Spokane's most established neighborhoods with strong rental demand and excellent long term investment potential.
Property Facts
| Price | $685,000 | Apartment Style | Low-Rise |
| Price Per Unit | $171,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 5.07% | Building Size | 3,714 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | ||
| Zoning | RMF | ||
| Price | $685,000 |
| Price Per Unit | $171,250 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,714 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Zoning | RMF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,198 | 850 |
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Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 35284.0184 | Improvements Assessment | $471,700 |
| Land Assessment | $180,000 | Total Assessment | $651,700 |
Property Taxes
Parcel Number
35284.0184
Land Assessment
$180,000
Improvements Assessment
$471,700
Total Assessment
$651,700
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