Pleased to present the Union Apartments for sale. A low-maintenance, value-add apartment building with strong upside potential. The property includes eight 1-BD/1BA units, onsite laundry, yard area, and dedicated parking for each unit plus additional street parking. Competitive price point at $115,625 per unit with a 6.18% cap rate. This asset outperforms market comps with an average of $128,073 per unit and 6.07% cap rate. Upside potential, opportunity to increase rents by 4.8% to market rates with as-is unit interiors offering strong immediate and long term income potential w/ 6.62% pro forma cap rat. Located in Chief Garry Park, this property offers quick access to Downtown Spokane and Feltz field, making it a desirable rental spot. Valuable amenities include onsite laundry and dedicated parking for each unit to enhance tenant satisfaction & retention. 1BD/1BA units are in strong demand, appealing to singles, couples, and professionals which supports steady occupancy and income!
Active
$925,000
5312 E Union Ave, Spokane, WA 99212
4beds
4baths
5,040sqft
Est.:
Multi Family
Built in 1912
-- sqft lot
$-- Zestimate®
$184/sqft
$-- HOA
What's special
Yard area
- 100 days
- on Zillow |
- 111 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: May 02, 2025 at 12:23am
Listed by:
Jim Lister 509-216-2222,
Windermere Manito, LLC
Source: SMLS,MLS#: 202515656

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- See Remarks
Cooling
- Other
Features
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 5,040
- Total interior livable area: 5,040 sqft
Property
Parking
- Parking features: Shared Driveway
- Has uncovered spaces: Yes
Features
- Levels: Two
Lot
- Size: 0.34 Acres
Details
- Parcel number: 35114.1009
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- See Remarks
- Roof: See Remarks
Condition
- Year built: 1912
Community & HOA
HOA
- Amenities included: See Remarks
Location
- Region: Spokane
Financial & listing details
- Price per square foot: $184/sqft
- Date on market: 4/25/2025
- Listing terms: See Remarks
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