Property Details

218 S Howard St

Spokane, WA 99201

$1,800,000

Pending

CBA# 703023 courtesy of CBA Listing firm: SVN Cornerstone LLC

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I’d like more information about 218 S Howard St, Spokane, MLS# 703023

Office / Retail

Property Type

20,634

Bldg Sq Ft

Units

9.00%

Cap Rate

1908

Year Built

Property Overview

We are pleased to present the Howard Building for sale located at 224 S Howard St in Downtown Spokane. The Howard Building consists of 40 apartment units, 2 retail suites (one occupied by The Blessed Express Barbershop and one vacant), shared laundry facilities for the tenants, a communal gathering area for tenants, and a basement with value add opportunity for additional use.Significant Capital Improvements – Ownership has completed extensive upgrades, including fresh interior paint, new flooring, updated bathrooms, new light fixtures, and partial furnishings.Diverse Income Stream – The property features 40 apartment units and 2 ground floor retail suites, providing a balanced mix of residential and commercial revenue.Resident Amenities – Tenants enjoy shared laundry facilities, a communal gathering space, and enhanced building security, all in a central Downtown Spokane location with walkable access to restaurants, shopping, entertainment, nearby third party parking, and transit.Value-Add Potential – Opportunities include leasing the vacant retail suite, activating underutilized basement space, and further optimizing operations for increased NOI.Attractive Assumable Loan – Seller financing available through an assumable note at 4.65% interest-only with maturity in January 2028, plus an option to extend for 24 months.