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505 E Hawthorne Rd
Spokane, WA 99218
Sienna Terrace · Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- Less than 1/2 mile from Whitworth University Campus
- Luxury vinyl plank floors, and high-efficiency mini split heating in each unit
- Four EV charging stations and 18 small storage units for additional income
- High end finishes including all quartz counters, soft close drawers, stainless appliances
- Vaulted ceilings on the 3rd level with a "penthouse" feel
- 29 total with 21 covered, off-street parking spaces
EXECUTIVE SUMMARY
Welcome to Sienna Terrace, a brand new 18-unit apartment complex in north Spokane just a few short blocks from Whitworth University! This thoughtfully designed community offers a collection of 1BR, 2BR, and 3BR units. Each spacious apartment features an open-concept floor plan, contemporary finishes, and large windows that fill the interiors with natural light. There are 6-one bed/one bath units; 9- two bed/two bath units; and 3- three bed/two bath units.This prime location is 7.3 miles from downtown Spokane; 13.4 miles from the Spokane Airport; and less than 1/2 mile from the Whitworth University campus, which has a current enrollment of over 2500 students. Tenants will love the numerous shopping and dining options nearby, with Target, Best Buy, Dick's Sports, Olive Garden, Red Robin and the YMCA among the many businesses and restaurants within 1/2 mile.
PROPERTY FACTS
| Price Per Unit | $266,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.70 AC |
| Cap Rate | 5.80% | Building Size | 17,922 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Property Subtype | Apartment | Parking Ratio | 1.51/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | County HDR - High Density Residential (HDR) is a residential category that includes greater than fifteen (15) dwelling units per acre. | ||
| Price Per Unit | $266,667 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.70 AC |
| Building Size | 17,922 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 1.51/1,000 SF |
| Zoning | County HDR - High Density Residential (HDR) is a residential category that includes greater than fifteen (15) dwelling units per acre. |
AMENITIES
SITE AMENITIES
- Storage Space
- Car Charging Station
- Fiber Optic Internet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,395 | 1,395 |
| 2+2 | 9 | $1,600 | 1,050 |
| 3+2 | 3 | $1,995 | 1,268 - 19,126 |
PROPERTY TAXES
| Parcel Number | 36172.2402 | Improvements Assessment | $0 |
| Land Assessment | $137,260 | Total Assessment | $137,260 |
PROPERTY TAXES
Parcel Number
36172.2402
Land Assessment
$137,260
Improvements Assessment
$0
Total Assessment
$137,260
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