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27213158
27213159

209 E Sprague Ave, Spokane, WA 99202

MG
WA 26840
LT Real Estate
DL
WA 26840
LT Real Estate
RT
WA 24027253
LT Real Estate
Listed by LT Real Estate
$750,000
252 days on market
Updated 9 days ago
Opportunity zone

Mixed-Use Property For Sale

Details
APN 35173.1808
Property Type Mixed Use
Sub Type Apartment, Retail (+1)
Square Footage 5,380
Net Rentable (SqFt) 5,380
Units 6
Cap Rate 8.05%
NOI $60,371
Occupancy 100%
Year Built 1927
Buildings 1
Stories 2
Lot Size (SqFt) 6,750
Zoning DTU
Ground Lease No

Mixed-Use Investment Opportunity

Marketing description

Mixed use investment property producing $7,395/month in rental income. Includes a total of seven condo units. Two retail spaces with 14’ ceilings (approx. 1,200 SF each), and three apartments (one 2 bed/1 bath, two 1 bed/1 bath). Also a shop/storage unit with fenced yard provide additional income and utility. TPO roof replaced in 2025.

Flyer - https://listings.ltrealestateco.com/209-e-sprauge

Investment highlights

  • 7 Total Tenants
  • Rental Income of $7,395/Month
  • 2 Retail Units @ 1,200 SF, 14’ High Ceilings
  • 3 Apartment Units:
    • 2 Bed/1 Bath
    • 1 Bed/1 Bath
    • 1 Bed/1 Bath
  • Shop/Storage Unit with 40' x 50' Fenced Yard
  • New TPO Roof in 2025

Listing Contacts

MG
WA 26840
LT Real Estate
DL
WA 26840
LT Real Estate
RT
WA 24027253
LT Real Estate
Listed by LT Real Estate

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$60,371.00
$5,030.92/mo

Valuation Metrics

0
DSCR
8.05%
Cap Rate
8.05%
ROI

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Additional Information

Name
Mitch Gillingham
License
26840
Brokerage
LT Real Estate
Brokerage Phone
(509) 315-8660
Title
Real Estate Broker
Brokerage Address
902 West Garland Avenue
Name
Dallas Lightner
License
26840
Brokerage
LT Real Estate
Title
Designated/Managing Broker
Name
Ryan Towner
License
24027253
Brokerage
LT Real Estate
Title
Real Estate Broker
Brokerage Address
902 West Garland Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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