929 N Ash St Spokane, WA 99201
- Commercial real estate
- 4,590 SF
Current Use by Public Records
- Commercial real estate
Property Details for 929 N Ash St
- Year built
- 1975
- Property size
- 4,590 SF
- Property type
- Commercial real estate
- APN
- 25131.4805
Description
This well-maintained 8-unit apartment building presents a compelling investment opportunity in Spokane, Washington. Located at 929 N Ash St, this three-story, 4,590 square foot property boasts eight one-bedroom, one-bathroom units, each approximately 500 square feet. Built in 1975, the building features a convenient common laundry room and has recently undergone significant capital improvements, including a new sewer line and the installation of new vinyl windows. Each unit benefits from separately metered baseboard electric heat. Currently, the units are under market rents, offering immediate potential for increased revenue. The property's strong financial performance is reflected in its net operating income (NOI) of $59,039.36, resulting in a 5.47% cap rate. The asking price is $835,000, translating to $104,375 per unit and $181.92 per square foot. The property's location at the corner of N. Ash Street and W. Dean Avenue provides excellent visibility and accessibility. The seller is open to carrying a contract; contact for terms and details. APN: 25131.4805.
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
- -117.4373224
- Latitude
- 47.66626745
