Iron Bridge Apartments 722 N Superior St 6 Unit Apartment Building $1,900,000 ($316,667/Unit) 4.48% Cap Rate Spokane, WA 99202

Marcus & Millichap has been selected to exclusively market for sale the Iron Bridge Apartments, a modern, high-end six-unit apartment building in Spokane, Washington. The 0.52-acre property sits directly along the Spokane River offering rare and highly desirable waterfront living with river views from four of the six units. Built in 2015, this turnkey property pairs exceptional contemporary craftsmanship with custom designed interiors and refined architectural detail. The building features 6 two bedroom/two-bathroom units with an average area of 1,069 square feet. Unit amenities include a dedicated single-car garage for each unit, covered deck/patio, washer and dryer, gas fireplace (in "view" units), and stainless-steel kitchen appliances including refrigerator, gas range, microhood, dishwasher, and garbage disposal. Community amenities include a private yard/patio, secure entry system, and off-street parking (5 spaces). Uniquely positioned in the vibrant University District, the property offers convenient access to Downtown Spokane and the nearby Gonzaga University and Washington State University Spokane campuses.
The Iron Bridge Apartments presents a rare opportunity to acquire an income-producing waterfront asset in a core urban market. With a proven rental history, the property provides stable, consistent cash flow, while the strategic University District location underpins its long-term value.
Spokane is a thriving urban metropolitan area that serves as the economic, educational, and cultural hub of the Inland Northwest. Total population estimates for the region are near 800,000 and continue to grow year-over-year.