1515 Sharp, Spokane, WA 99201

$1,795,000
: 10,944
SqFt

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List Price: $1,795,000
Status: ACTIVE
MLS#: 26-10283
Style: Multi Level
Year Built: 1977
Acres: 0.38
Living Area: 10,944
Region: Washington Counties
Subdivision: Spokane

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Property Description

SVN Cornerstone is pleased to present Sharp Apartments, a 16-unit multifamily investment opportunity in Spokane, WA. Built in 1977, the property features twelve 1-bed/1-bath units (~576 SF) and four 2-bed/1-bath units (~720 SF). 12 units have been renovated, leaving four classic units that offer an immediate ~17% upside in rents upon renovation. All units include in-wall A/C, baseboard heat, dishwashers, and ample closet space. Amenities include onsite laundry and covered rear parking. Offered at $1,900,000 ($118,750/unit | $194/NRSF), the asset delivers a 5.77% in-place cap rate at 100% occupancy. Located in Spokane's West Central neighborhood, the property offers quick access to I-90 and US-2/Division St, and is minutes from Downtown Spokane, the Spokane County Courthouse campus, Spokane Arena, and Riverfront Park--driving strong long-term tenant demand and stabilit

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Additional Information

Taxes: $15,287
Lot Features: Level
Basement: None
Heating: Furnace, Electric
Water: Public
Sewer: Public Sewer
School District: Other