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Listed by Jim Lister • Windermere Manito, LLC
$ 660,000
Est. payment | /mo
3,144 SqFt
$ 660,000
Est. payment | /mo
3,144 SqFt
Key Details
Property Type Multi-Family
Sub Type Rental
Listing Status Active
Purchase Type For Sale
Square Footage 3,144 sqft
Price per Sqft $209
MLS Listing ID 202420591
Year Built 1978
Lot Size 6,534 Sqft
Lot Dimensions 0.15
Property Sub-Type Rental
Property Description
The Hogan Apartments! Low-maintenance, value-add building with strong upside potential. The property includes six 1BD/1BA units, onsite laundry, and dedicated parking for each unit plus street parking. Competitive price point offered at $110,000/unit with a 6.40% cap rate, this asset outperforms market comps averaging $128,073/unit and a 6.07% cap rate. Stabilized Asset – With rents already at market rates, this turnkey property is already cash flowing. Light renovations include: New flooring, paint, and windows across units, reducing upfront capital needs. Situated in the Logan neighborhood, residents benefit from quick access to Gonzaga Prep High School, Gonzaga University, Spokane Community College, Downtown Spokane, and major transit routes. Features like onsite laundry and dedicated parking for each unit boost tenant satisfaction and improve retention. Strong rental demand. The 1 BD/1BA layouts are ideal for singles, couples, & professionals, ensuring consistent occupancy and long-term stability.
Location
State WA
County Spokane
Rooms
Basement Finished
Interior
Heating Natural Gas
Exterior
Parking Features Shared Driveway
Amenities Available Laundry
View Y/N true
Roof Type Composition
Building
Structure Type Steel Frame,Vinyl Siding,Wood Siding
Schools
School District Spokane Dist 81
Others
Acceptable Financing See Remarks
Listing Terms See Remarks
GET MORE INFORMATION
Christa Fuhrman Hermosillo
OWNER/AGENT/BROKER | License ID: IDAHO #SP56070 & WA #22020451