2807 Boone AveSpokane, WA 99202

For Sale
$2,200,000

15-Unit Apartment Building, Excellent ROI

Overview

Added:
Dec 11, 2024
Days on market:
92
This 15-unit apartment building in Spokane, Washington, presents a compelling investment opportunity. Located at 2807 E Boone Ave, Spokane, WA 99202, the property boasts a current NOI of $131,908 and a pro-forma NOI of $169,916, translating to a current cap rate of 6.00% and a pro-forma cap rate of 7.72%. The asking price is $2,200,000, or $146,667 per unit. Each unit is a spacious two-bedroom, one-bathroom apartment, approximately 850 square feet, featuring renovated interiors and a private balcony. On-site laundry adds to the convenience for residents. The property enjoys a prime location, just seven minutes from downtown Spokane's businesses and restaurants, six minutes from Gonzaga University, and four minutes from Avista Stadium. Ample parking is available. This multifamily investment offers a strong potential for both current and future income generation, making it an attractive addition to any portfolio. The property is situated in Spokane County.

Highlights

  • 15-unit apartment building in Spokane, WA, offering spacious two-bedroom, one-bathroom units (approx. 850 sq ft).
  • Six-minute drive to Gonzaga University and seven-minute drive to downtown Spokane.
  • Most units feature renovated interiors and private balconies.
  • On-site laundry and ample parking.

Property Details for 2807 Boone Ave

Property type
Multifamily properties, Apartment buildings
Units
15

Location Insight

City
Spokane
County
Spokane
State
Washington
Latitude
47.6689313
Longitude
-117.368748
2807 Boone Ave, Spokane, Washington

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2807 Boone Ave
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