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Ash Apartments 1704-1712 N Ash St 7 Unit Apartment Building $682,575 CAD ($97,511 CAD/Unit) 7.48% Cap Rate Spokane, WA 99205
Investment Highlights
- Offered at approximately $74K per unit, providing investors with an appealing entry point
- Well maintained property with continued upside potential through future rent growth and operational improvements
- Walking distance to multiple bus stops, providing convenient transportation access throughout Spokane
- Recent Capital Improvements
- Conveniently located near major employers, parks, schools, shopping, and other everyday amenities
Executive Summary
Ash Apartments is a well-located 7-unit value-add apartment community in Spokane’s West Central neighborhood, offering immediate cash flow with a clear path to enhanced long-term returns through light interior upgrades and operational improvements. The property consists of two charming buildings and has benefited from nearly $115,000 in recent capital improvements including new electrical service and panels, upgraded windows, new siding and exterior paint, interior paint, LVP flooring, and a new furnace, significantly reducing near-term capital needs. The asset is ideally positioned for continued income growth through updated interiors and refreshed common areas, and its proximity to Downtown Spokane, Gonzaga University, transit, parks, and major employers supports strong and durable rental demand, making it an attractive opportunity for investors seeking a stabilized core holding with meaningful upside.
Property Facts
| Price | $682,575 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $97,511 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 7.48% | Building Size | 6,346 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | ||
| Zoning | CC2 | ||
| Price | $682,575 CAD |
| Price Per Unit | $97,511 CAD |
| Sale Type | Investment |
| Cap Rate | 7.48% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 6,346 SF |
| No. Stories | 2 |
| Year Built | 1911 |
| Zoning | CC2 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 1 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 25124.6008 | Improvements Assessment | $628,781 CAD |
| Land Assessment | $57,876 CAD | Total Assessment | $686,657 CAD |
Property Taxes
Parcel Number
25124.6008
Land Assessment
$57,876 CAD
Improvements Assessment
$628,781 CAD
Total Assessment
$686,657 CAD
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Ash Apartments | 1704-1712 N Ash St
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