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    620 Walnut St Spokane, WA 99204

    Sponsored
    For Sale
    $1,335,000

    Spokane, WA Multifamily Investment

    Property size:
    7,824 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 8-unit apartment building, located at 620 S Walnut St in Spokane, WA (99204), presents a compelling investment opportunity. Built in 1964 and extensively renovated in 2012, this Core+ property boasts 7,824 square feet on a 0.18-acre lot (APN 25244.3108). Currently operating at 100% occupancy, the property generates a strong pro-forma NOI of $72,238, representing a pro-forma cap rate of 5.36%. The asking price is $1,335,000, or $166,875 per unit, and $170.63 per square foot. The building features desirable amenities including covered parking with secure entry and an interior mailroom. All units benefit from upgraded appliances, vinyl windows and sliders, weather-free stairways, and quality kitchen and bathroom finishes. The exterior is low-maintenance hardy board siding. Each unit includes a washer/dryer, contributing an average monthly income of $150. Covered patios offer city views. The property is zoned RHD and presents minimal expected maintenance due to the recent renovations. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable Spokane location.

    Property Features for 620 Walnut St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,824 SF
    Lot Size
    7,841 SF

    Building Details

    Year Built/Renovated
    1964/2012
    Units
    8

    HighLights

    • Secure covered parking with interior mailroom.
    • Vinyl windows and sliders; weatherproof stairwells.
    • Hardy board siding exterior in excellent condition.
    • Upgraded appliances; conduit‑encased wiring.
    • On‑site washer/dryer; $150 average monthly income.
    • High‑quality kitchen and bathroom finishes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.43406261172
    Latitude
    47.649682154139

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    FAQs

    What type of property is this?
    Multifamily property - Spokane, WA Multifamily Investment
    Where is this multifamily property located?
    The property is located at 620 Walnut St Spokane, WA.
    What is the asking price?
    The asking price for this property is $1,335,000.
    What are key features of this property?
    This property features: Secure covered parking with interior mailroom.; Vinyl windows and sliders; weatherproof stairwells.; Hardy board siding exterior in excellent condition.
    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
    620 Walnut St Spokane, WA 99204
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