Log In/Sign Up
Your email has been sent.
Knickerbocker Apartments 507 S Howard St 30 Unit Apartment Building $4,250,000 ($141,667/Unit) 6.60% Cap Rate Spokane, WA 99204
Investment Highlights
- 1 Retail space with 5 yr. Lease Signed
- Rent Upside of 10-20%
- 29 Apartment Units
Executive Summary
Includes retail space valued at $315K at an 8% cap rate. The apartment portion of the property is valued at $3,935,000, or $135K per unit (29 units).
Prime mixed-use property in Spokane’s sought-after South Hill neighborhood. The building features 1,015 sqft retail space with a coffee tenant in place with five years left on the lease and twenty-nine apartments above. Located in an Opportunity Zone, the property offers valuable tax benefits and strong income potential. The unit mix includes eighteen one-bedroom and eleven two-bedroom apartments, all with spacious layouts and quality finishes. Rent upside of 10%-20% provides additional growth potential. A solid investment opportunity in a high-demand location close to downtown, shopping, and dining.
Prime mixed-use property in Spokane’s sought-after South Hill neighborhood. The building features 1,015 sqft retail space with a coffee tenant in place with five years left on the lease and twenty-nine apartments above. Located in an Opportunity Zone, the property offers valuable tax benefits and strong income potential. The unit mix includes eighteen one-bedroom and eleven two-bedroom apartments, all with spacious layouts and quality finishes. Rent upside of 10%-20% provides additional growth potential. A solid investment opportunity in a high-demand location close to downtown, shopping, and dining.
Property Facts
| Price | $4,250,000 | Building Class | C |
| Price Per Unit | $141,667 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 42,500 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| No. Units | 30 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | OR | ||
| Price | $4,250,000 |
| Price Per Unit | $141,667 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 42,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1912 |
| Opportunity Zone |
Yes |
| Zoning | OR |
Amenities
Site Amenities
- Controlled Access
- Courtyard
- Laundry Facilities
- Smoke Free
- Vintage Building
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 780 |
| 2+1 | 11 | - | 1,015 |
| Studios | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Property Taxes
| Parcel Number | 35191.4301 | Improvements Assessment | $3,274,030 |
| Land Assessment | $314,270 | Total Assessment | $3,588,300 |
Property Taxes
Parcel Number
35191.4301
Land Assessment
$314,270
Improvements Assessment
$3,274,030
Total Assessment
$3,588,300
1 of 42
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Knickerbocker Apartments | 507 S Howard St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.