37 Hoffman AveSpokane, WA 99207

Property Details for 37 Hoffman Ave

Year built

1951

Property size (Sq ft)

1,788 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a single-family rental property located at 37 E Hoffman Ave, Spokane, WA 99207. The property, a charming 1951 bungalow situated on a 4,600 square foot lot, underwent a complete renovation in 2022. Boasting 1,788 square feet, this single-unit property features three bedrooms and one bathroom, offering a comfortable and updated living space. The kitchen has been beautifully updated with new stainless steel appliances and granite countertops. Other notable features include new flooring, fresh paint throughout, a cozy living room with a wood-burning fireplace and hardwood floors, a formal dining area (or potential home office), ample basement storage, and a detached single-car garage. Currently 100% occupied, this property generates a strong net operating income (NOI) of $20,340, resulting in a compelling 6.78% capitalization rate. The asking price is $299,900, translating to a price per square foot of $167.73 and a price per unit of $299,900. Its convenient location near Northtown Mall provides easy access to shopping and dining. This is a turnkey investment, ideal for a seasoned investor seeking a stable, high-return property in a desirable Spokane neighborhood. The property is classified as Class C and operates under a net lease investment structure.

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6999

Longitude

-117.41

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