620 Walnut St Spokane, WA 99204
- Commercial real estate
- 7,824 SF
- 0.18 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 620 Walnut St
- Year built
- 1964
- Lot size
- 0.18 lot acres
- Property size
- 7,824 SF
- Property type
- Commercial real estate
- APN
- 25244.3108
Description
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.
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
- -117.43406261172
- Latitude
- 47.649682154139
