Property Details

418 E Mission Ave

Spokane, WA 99202

$1,050,000

Available

CBA# 710786 courtesy of CBA Listing firm: SVN Cornerstone LLC

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Commercial

Property Type

6,000

Bldg Sq Ft

Units

7.00%

Cap Rate

1905

Year Built

Property Overview

SVN Cornerstone is pleased to present the Villa Maria Apartments for sale located at 418 E Mission Ave in Spokane's Logan neighborhood. The Villa Maria Apartments consist of a 15 bedroom shared housing residence with five bathrooms. The property features a large shared kitchen, furnished common living areas, a common laundry room with two washers and two dryers, and five off street parking spaces.Highlights – Over $100K in Recent CapEx – Recent capital improvements include fully furnished bedrooms, upgraded copper electrical wiring, a newer asphalt shingle roof, double pane windows, and a high efficiency gas water heater.- Walking Distance to Gonzaga – Prime Logan neighborhood location within walking distance of Gonzaga University, downtown Spokane, shopping, dining, and major employers.- Fully Furnished – All bedrooms and common areas are fully furnished, allowing for seamless leasing and making this a turnkey investment.- Strong Tenant Demand – Affordable by the room housing attracts a stable tenant base primarily consisting of students.- Residential Utility Billing – Residential utility rates reduce operating expenses and enhance NOI.