2001 Boone AveSpokane, WA 99201
- Residential income properties
- 6,266 SF
Property Details for 2001 Boone Ave
- Year built
- 2024
- Lot size
- 0.11 AC
- Property size (Sq ft)
- 6,266 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional investment opportunity presents a newly constructed, nine-unit apartment building located at 2001 W Boone Ave, Spokane, WA 99201. Completed in December 2024, this 6,266 square foot Class C multifamily property sits on a 0.11-acre lot and boasts a compelling pro-forma cap rate of 5.40% and a pro-forma NOI of $105,382. The building is zoned Spokane RHD-35, offering significant potential for future growth and development. Investors will benefit from a twelve-year property tax abatement, further enhancing the return on investment. Strategically positioned in an opportunity zone, this property enjoys convenient access to Kendall Yards, a desirable and rapidly developing area of Spokane. The building's central location provides easy access to various amenities and transportation routes. This is a rare chance to acquire a brand-new, high-performing multifamily asset in a thriving market. The asking price is $1,950,000. Don't miss this opportunity to add a strong performing asset to your portfolio.
Location Insight
- City
- Spokane
- County
- Spokane
- State
- Washington
- Latitude
- 47.6678
- Longitude
- -117.442
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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