28-Unit Townhome Apartment
4827 S PALOUSE HWY, Spokane, WA 99223
For Sale
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Private entrances and attached garages distinguish the two-bedroom, two-bathroom residences.
Property SizeContact for details
Days on Market34
Property Features for 4827 S PALOUSE HWY
General Information
Standard status
Property subtype
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Listing Agency:
Paragon Group
Listed By:
Peter Clark · License WA #25005584
(509) 471-6805
Source:
Crexi
Added: Oct 8
Changed: Nov 9
Last Checked: Nov 10 at 6:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Paragon Group
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Investment Insights
Based on property information with market context.
This 28-unit apartment community on Spokane’s South Hill is made up of townhome-style residences, each with two bedrooms and two bathrooms. Homes average approximately 1,200 SF and have private entrances plus attached garages configured for one or two cars. Renovations have been completed in 21 units, with seven remaining. The current cap rate is 6.06%, compared with a 7.76% pro forma cap rate. The community has historically leased from a wait-list. A potential condominium exit is also noted as a longer-term option, subject to buyer due diligence.
Key Highlights
- 28 townhome‑style apartment units
- All residences have 2 bedrooms and 2 bathrooms and average ~1,200 SF
- 21 units renovated; 7 units remain
Property Analytics
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Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
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Business Placement
Demographics for 99223, WA
34,201
Population
15,252
Households
2.2
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
32.1 sq mi
ZIP Area
1,065
Density / Sq Mi
$91,377
Median Household Income
$53,132
Median Earnings
$1,221
Median Rent
$457,200
Median Home Value
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Average Price Trend$/SF for Apartment buildings in Spokane, WA
Properties on Market for Apartment buildings in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Private entrances and attached garages distinguish the two-bedroom, two-bathroom residences.
Where is this apartment building located?
The property is located at 4827 S PALOUSE HWY Spokane, WA.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 28 townhome‑style apartment units; All residences have 2 bedrooms and 2 bathrooms and average ~1,200 SF; 21 units renovated; 7 units remain
