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About the Listing 6730 - 155301
Offered at $799,000, or $114,143 per unit, 10th Avenue Apartments presents a compelling cash-flow opportunity in Spokane’s historic Cliff/Cannon neighborhood. The property is currently 100% occupied with high-quality tenants, providing immediate and stable income. A new lease was recently signed, bringing total monthly revenue to $7,792. At the current asking price, the property offers an 8.01% in-place cap rate, with a path to an 8.56% pro forma cap rate. Significant capital improvements have already been completed, reducing near-term capital needs for new ownership. Recent improvements include exterior paint, a new hot water heater, interior paint throughout the common areas, updates to the parking area, and more Four of the seven units have been renovated, establishing a clear improvement standard for the three remaining unrenovated units. This defined renovation scope provides new ownership with an opportunity to further improve unit quality and increase rental income without undertaking a full property repositioning. Located on the lower South Hill, the property is minutes from downtown Spokane, the Medical District, neighborhood parks, Huckleberry’s Natural Market, and other South Hill amenities. Its established residential location provides convenient access to major employers, shopping, recreation, and transit, supporting continued renter demand.
Listing Highlights
Status
Active
Days on Site
32
Property Type
Multi-Family
MLS ®
2562023
Year Built
1909
Total Square Footage
7,249
Lot/Acreage
0.18
County
Spokane
Building Name
Cannon's Add
Neighborhood
Spokane
Area
561 - Spokane County
School District
Spokane
Interior Details
- Bedrooms: 9
- Bathrooms: 7 Full
- Appliances:
- Air Cond:
- Heating: Radiator
- Fireplaces: 0
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Zoning: Multi-Family,Residential
- Garage Capacity: N/A
- Parking Spaces: 3
- Zoning: Multi-Family,Residential
- Roof: Composition
- Others: Metal/Vinyl,Average
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $4,993
- Taxes w/Assessments: N/A
- Tax/Property ID: 25244.4114
- Tax Year: 2026
Payment Calculator
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Questions About..
1414 W Tenth Ave Spokane, WA 99204
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