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    1412 11Th Ave Spokane, WA 99204

    Sponsored
    For Sale
    $975,000

    9-Unit Multifamily Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 9-unit apartment building, located at 1412 W 11th Ave in Spokane, WA 99204, presents a compelling investment opportunity. Situated on a 10,000 sq ft lot in the desirable Cannon's Edition neighborhood of Spokane's lower South Hill, this Class B property offers a mix of unit sizes. The building, constructed in 1963 and renovated between 2016 and 2024, features four two-bedroom, one-bathroom units and five one-bedroom, one-bathroom units. Ample parking is provided with eight spaces on-site. The property benefits from its convenient location, close to shopping, including grocery and hardware stores, and is situated on a bus line, enhancing its appeal to tenants. The building also includes a manageable green space. Currently, three units are undergoing renovations. The permitted zoning allows for 13+ units, suggesting potential for future expansion or redevelopment. This owner-user investment is priced at $975,000 and is a two-story building. The property's strong location, unit mix, and ongoing improvements make it an attractive investment prospect in the Spokane market. Broker co-op is available.

    Property Features for 1412 11Th Ave

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built/Renovated
    1963/2024
    Buildings
    1
    Stories
    2
    Units
    9

    HighLights

    • 9‑unit apartment building in Cannon's Edition, lower South Hill.
    • Four 2‑bedroom/1‑bathroom units and five 1‑bedroom/1‑bathroom units.
    • Convenient location, close to shopping and public transportation.
    • Eight parking spaces and manageable green space.
    • Three units currently under renovation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4329847
    Latitude
    47.6456142

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    FAQs

    What type of property is this?
    Multifamily property - 9-Unit Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 1412 11Th Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 9-unit apartment building in Cannon's Edition, lower South Hill.; Four 2-bedroom/1-bathroom units and five 1-bedroom/1-bathroom units.; Convenient location, close to shopping and public transportation.
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    Spokane, WA 99204
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1412 11Th Ave Spokane, WA 99204
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