305 Spaulding St Pullman, WA 99163
- Apartment buildings
- 7,800 SF
Current Use by Public Records
- Apartment buildings
Property Details for 305 Spaulding St
- Year built
- 1967
- Property size
- 7,800 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pullman
- County
- Whitman
- State
- Washington
- Longitude
- -117.177
- Latitude
- 46.7324
