1515 SharpSpokane, WA 99201

Description

SVN Cornerstone is pleased to present Sharp Apartments, a 16-unit multifamily investment opportunity in Spokane, WA. Built in 1977, the property features twelve 1-bed/1-bath units (~576 SF) and four 2-bed/1-bath units (~720 SF). 12 units have been renovated, leaving four classic units that offer an immediate ~17% upside in rents upon renovation. All units include in-wall A/C, baseboard heat, dishwashers, and ample closet space. Amenities include onsite laundry and covered rear parking. Offered at $1,900,000 ($118,750/unit | $194/NRSF), the asset delivers a 5.77% in-place cap rate at 100% occupancy. Located in Spokane's West Central neighborhood, the property offers quick access to I-90 and US-2/Division St, and is minutes from Downtown Spokane, the Spokane County Courthouse campus, Spokane Arena, and Riverfront Park--driving strong long-term tenant demand and stabilit

Property Information

Property type

Residential Income

Sub-type

Multi Family

Year built

1977

Living area

10,944 Sq Ft

Lot size

0.38 acres

Zoning

LI

Days on market

15

MLS^® Listing#

26-10283

Property Features

Heating

Floor Furnace · Electric

Basement

None

Parking

Paved

Lot features

Level

Construction

Metal Siding · Concrete · Steel Siding

Roof

Aluminum

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Annual taxes

$15,287Tax year 2025

Parcel number

25131.1015

Directions

From I-90, take exit 280 for Maple St, cross the bridge north, and turn right on W Sharp Ave. 1515-1519 W Sharp is on the right between Ash & Walnut, minutes from Downtown Spokane & Kendall Yards.