822 Baldwin AveSpokane, WA 99207

Property Details for 822 Baldwin Ave

Year built

1961

Construction

STEEL FRAME

Lot size

0.12 AC

Property size (Sq ft)

4,466 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

35084.2503

APU

350842503

Description

This exceptional investment opportunity presents a 7-unit apartment building located at 822 E. Baldwin Ave, Spokane, WA 99207. The property, a Class B building constructed in 1961 with renovations in 1978 and 2018, boasts 4,466 square feet of net rentable space situated on a 9,022 square foot lot. Currently operating at 100% occupancy, this stabilized multifamily property generates a strong net operating income (NOI) of $48,420, yielding a 5.70% cap rate. The asking price is $850,000, translating to $121,428.57 per unit. The property features convenient on-site laundry facilities and individual storage units for each of the seven units. Zoned CC1-DC, this two-story building offers a compelling value-add opportunity in a prime Spokane location, steps from Gonzaga University. The property's strong rental income, high occupancy rate, and desirable location make it an attractive investment for those seeking a stable and potentially appreciating asset. The fee simple ownership provides complete control and potential for future appreciation. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Spokane neighborhood.

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6755

Longitude

-117.397

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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