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    305 Spaulding St Pullman, WA 99163

    For Sale
    $1,825,000

    12-Unit Apartment Building, High Occupancy

    Property size:
    7,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents the Glenwood Arms, a 12-unit apartment building located at 305 NE Spaulding St, Pullman, WA 99163. The property boasts a total of 7,800 square feet situated on a 3,631 square foot lot. Built in 1967 and extensively renovated in 2020, the building offers a blend of classic charm and modern updates. Currently enjoying a 100% occupancy rate, this Core+ investment property generates a substantial net operating income (NOI) of $91,088, representing a 5.00% capitalization rate. The asking price is $1,825,000, translating to $233.97 per square foot. Each of the twelve units features contemporary design and high-quality finishes, ensuring strong tenant satisfaction and maximizing rental income. The property's prime location in Pullman, within Whitman County, places it in a high-demand rental market, promising both immediate returns and long-term stability for the discerning investor. This is a rare chance to acquire a well-maintained, income-producing multifamily asset with significant upside potential. The property's strong performance metrics and desirable location make it an attractive addition to any investment portfolio.

    Property Features for 305 Spaulding St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,800 SF

    Building Details

    Year Built/Renovated
    1967/2020
    Units
    12

    HighLights

    • 7,800 SF multi‑family building with 12 units.
    • 1967 construction, renovated in 2020.
    • Excellent Pullman location.
    • 100% occupancy.
    • Attractive, updated unit interiors.
    • High rental demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Pullman
    County
    Whitman
    State
    Washington
    Longitude
    -117.1773967
    Latitude
    46.7323618

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    FAQs

    What type of property is this?
    Multifamily property - 12-Unit Apartment Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 305 Spaulding St Pullman, WA.
    What is the asking price?
    The asking price for this property is $1,825,000.
    What are key features of this property?
    This property features: 7,800 SF multi-family building with 12 units.; 1967 construction, renovated in 2020.; Excellent Pullman location.
    Request Owner's contact information
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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
    305 Spaulding St Pullman, WA 99163
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