37 Hoffman Ave Spokane, WA 99207
- Residential income homes
- 1,788 SF
Current Use by Public Records
- Residential income homes
Property Details for 37 Hoffman Ave
- Year built
- 1951
- Property size
- 1,788 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a single-family rental property located at 37 E Hoffman Ave, Spokane, WA 99207. The property, a charming 1951 bungalow situated on a 4,600 square foot lot, underwent a complete renovation in 2022. Boasting 1,788 square feet, this single-unit property features three bedrooms and one bathroom, offering a comfortable and updated living space. The kitchen has been beautifully updated with new stainless steel appliances and granite countertops. Other notable features include new flooring, fresh paint throughout, a cozy living room with a wood-burning fireplace and hardwood floors, a formal dining area (or potential home office), ample basement storage, and a detached single-car garage. Currently 100% occupied, this property generates a strong net operating income (NOI) of $20,340, resulting in a compelling 6.78% capitalization rate. The asking price is $299,900, translating to a price per square foot of $167.73 and a price per unit of $299,900. Its convenient location near Northtown Mall provides easy access to shopping and dining. This is a turnkey investment, ideal for a seasoned investor seeking a stable, high-return property in a desirable Spokane neighborhood. The property is classified as Class C and operates under a net lease investment structure.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.40961332093
- Latitude
- 47.699934060777
