1927 W Riverside Avenue, Spokane, WA 99201
- $1,200,000
- 6,164
- SqFt
Listing Broker: The Paragon Group; Peter Clark; 509-943-0400; peter@multifamilymason.com
- List Price
- $1,200,000
- Status
- ACTIVE
- MLS#
- 2585554
- Style
- 56 - 10+ Units
- Building Condition
- Average
- Finished SqFt
- 6,164
- Area Total SqFt
- 6164
- Annual Tax Ammount
- 8757
- Lot Size (sq ft)
- 5,350
- Sewer
- Sewer Connected
Property Description
Riverside10 offers the opportunity to acquire a distinctive 10-unit multifamily property in Spokane’s historic Browne’s Addition neighborhood. Built in 1900, the property combines enduring architectural character with thoughtful updates and an established tenant base, creating an attractive alternative to conventional apartment product. The investment also offers multiple avenues for operational upside. Improved revenue management and active ownership provide an opportunity to enhance cash flow, while one unit’s established short-term rental use and private exterior entrance create additional flexibility beyond traditional apartment operations. Combined with a highly walkable location immediately west of Downtown Spokane, Riverside10 offers a differentiated investment with both existing appeal and future upside.
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Additional Information
- Community
- Spokane
- Net Operating Income
- $67,309
- Gross Adjusted Income
- $124,974
- Gross Scheduled Income
- $124,974
- Total Monthly Income
- $10,358
- Insurance Expenses
- $5,840
- Water/Sewer/Garbage Expenses
- $10,724
- Gross Rent Multiplier
- 9.6
- Total Expenses
- $57,665
- Cap Rate
- 5.61
- Total Number of Units
- 10
- Unit Name
- 1927
- Potential Terms
- Conventional
- Year Built
- 1900
- View
- City
- Roof
- Composition
- Electric Expenses
- 4765
- Other Expenses
- 27579
- Energy Source
- Electric
- School District
- Spokane
- Elementary School
- Roosevelt Elementary
- Middle School
- Sacajawea Mid
- High School
- Lewis & Clark High
- Total Monthly Income
- $10,358
- Gross Scheduled Income
- $124,974
- Gross Adjusted Income
- $124,974
- Tax Year
- 2026
- Insurance Expense
- $5,840
- W/S/G Expenses
- $10,724
- Total Expenses
- $57,665
- Net Operating Income
- $67,309
- Gross Rent Multiplier
- 9.6
- Cap Rate
- 5.61
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.