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5312 E Union Ave 8 Unit Apartment Building $850,000 ($106,250/Unit) 6.47% Cap Rate Spokane, WA 99212
Investment Highlights
- Competitive Pricing – Offered at $106,250 per unit versus market comps averaging $118,784 per unit
- R1 Zoning Flexibility – Potential for additional units, redevelopment, or lot line adjustment
- Onsite Amenities – Laundry and dedicated parking for each unit
- 0.34 Acre Site – Triple-lot footprint currently held as one parcel
- Central Spokane Location – Minutes to Downtown, Gonzaga, SCC, I-90, parks, and transit
- Consistent Demand – 1 bed/1 bath layout supports stable occupancy
Executive Summary
SVN Cornerstone is pleased to present the Union Apartments for sale located at 5312 E Union Ave in Spokane. The Union Apartments consist of 8 1 bedroom 1 bathroom units, a common laundry room, a parking lot, and a large 0.34 acre lot, offering future development or redevelopment potential.
Property Facts
| Price | $850,000 | Building Class | C |
| Price Per Unit | $106,250 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 5,040 SF |
| Cap Rate | 6.47% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | Parking Ratio | 3.17/1,000 SF |
| Zoning | C | ||
| Price | $850,000 |
| Price Per Unit | $106,250 |
| Sale Type | Investment |
| Cap Rate | 6.47% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 5,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1912 |
| Parking Ratio | 3.17/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Family Room
Site Amenities
- Courtyard
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Property Taxes
| Parcel Number | 35114.1009 | Improvements Assessment | $751,400 |
| Land Assessment | $75,000 | Total Assessment | $826,400 |
Property Taxes
Parcel Number
35114.1009
Land Assessment
$75,000
Improvements Assessment
$751,400
Total Assessment
$826,400
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5312 E Union Ave
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