Garland9
Garland9 | Stabilized Triplex Portfolio | Garland District
Marketing description
3906-3912 N Cedar St & 1332-1336 W Garland Ave offers three triplexes on three parcels in Spokane’s Garland District. The 9-unit portfolio has already benefited from meaningful ownership investment, including renovated interiors in 6 of 9 units, and major CapEx such as new roofs and windows. With stabilized performance and proven rent growth on renovated units, the portfolio offers dependable in-place income with additional upside remaining.
The remaining upside is straightforward and achievable. As long-term tenants naturally vacate, select units can be renovated to match the quality of the completed interiors, allowing rents to continue moving toward proven renovated-unit levels. This creates a clear path to incremental cash flow growth while preserving the portfolio’s stabilized performance.
Investment highlights
Stabilized Triplex Portfolio
Three triplexes across three separate parcels provide an efficient 9-unit investment with diversified tenants and a straightforward operating profile. With 6 of 9 units already renovated, the portfolio offers proven in-place performance with a clear path to continued rent growth.
Remaining Value-Add Upside
Long-term tenants in select units create a natural next phase of upside as units turn. As the remaining units are renovated, rents can continue moving toward proven renovated-unit levels, allowing for incremental cash flow growth while preserving the portfolio’s stabilized performance.
Renovated Units & Major CapEx Completed
Current ownership has completed significant capital improvements, including roofs, windows, and interior renovations on the majority of the units. These upgrades reduce near-term buyer exposure while supporting stronger rents, easier leasing, and improved long-term cash flow.
Prime Garland District Location
Located in Spokane’s Garland District, the property benefits from one of the city’s most recognizable neighborhoods. The district is known for its historic Garland Theater, local restaurants, pubs, shops, and arts oriented identity, offering tenants a walkable neighborhood setting with strong local character.
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