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903 S Adams St 9 Unit Apartment Building $1,175,000 ($130,556/Unit) 7.21% Cap Rate Spokane, WA 99204
INVESTMENT HIGHLIGHTS
- Potential for Seller Financing
- 7 - 1 Bed Units, 1 - 2 Bed Unit, 1 -Studio
- On Site Laundry Facilities
EXECUTIVE SUMMARY
Step into a rare investment opportunity with this historic Tudor mansion—formerly the Martin Woldson mansion—now transformed into a high-performing multifamily asset. This iconic property includes 7 one-bedroom units, 1 spacious two-bedroom unit, and 1 charming studio, generating a combined monthly income of $9,548.
Inside, residents enjoy vaulted 9-foot ceilings on the main and top floors, adding grandeur and openness to each unit. On-site laundry facilities provide added convenience, and the character-rich architecture offers timeless curb appeal and tenant retention.
This is more than just a rental—it's a chance to own a piece of Spokane’s history while benefiting from stable cash flow and future upside. Seller financing available.
Inside, residents enjoy vaulted 9-foot ceilings on the main and top floors, adding grandeur and openness to each unit. On-site laundry facilities provide added convenience, and the character-rich architecture offers timeless curb appeal and tenant retention.
This is more than just a rental—it's a chance to own a piece of Spokane’s history while benefiting from stable cash flow and future upside. Seller financing available.
PROPERTY FACTS Under Contract
| Price | $1,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $130,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.21% | Building Size | 6,104 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1917 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RMF | ||
| Price | $1,175,000 |
| Price Per Unit | $130,556 |
| Sale Type | Investment |
| Cap Rate | 7.21% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,104 SF |
| No. Stories | 3 |
| Year Built | 1917 |
| Opportunity Zone |
Yes |
| Zoning | RMF |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| Studios | 1 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 35193.1105 | Improvements Assessment | $572,400 |
| Land Assessment | $105,600 | Total Assessment | $678,000 |
PROPERTY TAXES
Parcel Number
35193.1105
Land Assessment
$105,600
Improvements Assessment
$572,400
Total Assessment
$678,000
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903 S Adams St
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