Description
Multifamily investment property in the heart of Spokane. This unique property sits on 1.75 acres in city limits and includes a total of 5 homes plus a shop. All fully occupied and produce $86,039 in annual net income with a 6.7% cap rate. And that's not all - the possibilities for growth are endless with preliminary plat approval for additional building parcels. Whether you choose to maintain the existing rental income or capitalize on the development opportunities, this one of a kind property is full of potential. Conveniently located near public transportation, schools, and shopping, with great access to parks & all amenities. Don't miss out on this rare investment opportunity!
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0BEDS
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1.75ACRES
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0BATHS
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01/2 BATHS
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9,259SQFT
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$138$/SQFT
School Information
Description
Multifamily investment property in the heart of Spokane. This unique property sits on 1.75 acres in city limits and includes a total of 5 homes plus a shop. All fully occupied and produce $86,039 in annual net income with a 6.7% cap rate. And that's not all - the possibilities for growth are endless with preliminary plat approval for additional building parcels. Whether you choose to maintain the existing rental income or capitalize on the development opportunities, this one of a kind property is full of potential. Conveniently located near public transportation, schools, and shopping, with great access to parks & all amenities. Don't miss out on this rare investment opportunity!
© 2023 of Spokane Association of REALTORS® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2023-12-01T17:20:31.217.