3002 Crestline StSpokane, WA 99207

Property Details for 3002 Crestline St

Year built

2022

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 2022-built, four-unit apartment building in Spokane, WA, presents a compelling investment opportunity. The property boasts a 6.15% cap rate and a strong net operating income (NOI) of $67,380, based on a $1,095,000 asking price. All four units are currently 100% occupied with one-year leases, ensuring immediate cash flow. The building comprises two stories and features a mix of unit configurations. The lower two units each offer two bedrooms, one bathroom, and are ADA compliant, including convenient patio access via sliding glass doors. The upper two units provide two bedrooms and two bathrooms, with en-suite primary bedrooms. Each unit is equipped with a washer and dryer, a full kitchen (including refrigerator and dishwasher), and a split system for efficient heating and air conditioning. High-quality finishes include luxury vinyl plank (LVP) flooring, upgraded cabinets and countertops, large vinyl windows for abundant natural light, and recessed lighting. The property includes four parking spaces per unit. The building's address is 3002 N Crestline St, Spokane, WA 99207, and the APN is 35091.0813. This property is offered as a 1031 exchange opportunity. The price per unit is $273,750.

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6858

Longitude

-117.379

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