2807 Boone Ave Spokane, WA 99202
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 2807 Boone Ave
- Property type
- Commercial real estate
Description
This 15-unit apartment building in Spokane, Washington, presents a compelling investment opportunity. Located at 2807 E Boone Ave, Spokane, WA 99202, the property boasts a current NOI of $131,908 and a pro-forma NOI of $169,916, translating to a current cap rate of 6.00% and a pro-forma cap rate of 7.72%. The asking price is $2,200,000, or $146,667 per unit. Each unit is a spacious two-bedroom, one-bathroom apartment, approximately 850 square feet, featuring renovated interiors and a private balcony. On-site laundry adds to the convenience for residents. The property enjoys a prime location, just seven minutes from downtown Spokane's businesses and restaurants, six minutes from Gonzaga University, and four minutes from Avista Stadium. Ample parking is available. This multifamily investment offers a strong potential for both current and future income generation, making it an attractive addition to any portfolio. The property is situated in Spokane County.
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
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.368748
- Latitude
- 47.6689313
