Prime Investment Opportunity: West Spofford Apartments in Spokane, WA

If you’re looking for a strategic multifamily investment with tremendous value-add potential, the Simon | Anderson Multifamily Team at Kidder Mathews presents West Spofford Apartments in Spokane, WA. This well-maintained 10-unit property is priced at $1,100,000 and offers an exceptional opportunity for strong returns through immediate rent increases and future renovations.

?? Property Overview The West Spofford Apartments is a 10-unit multifamily property centrally located in Spokane, WA. With several recent upgrades, this property is turnkey with minimal immediate capital needs. However, the true value lies in its untapped potential—current rents are below market rates, providing a clear opportunity to increase cash flow through strategic improvements.

??Renovation Upside & Value-Add Potential

• As-Is Rent Increases: With no immediate renovations, rents can be increased by 18%, bringing the property closer to market rates.
• ?Renovation Upside: With moderate unit upgrades, rents could increase by up to 38%, significantly boosting income and overall value.
• ?Recent Upgrades & Well-Maintained Systems The property has undergone key updates, including a new roof, panels, and boiler, reducing the need for major capital expenditures in the near future. These improvements not only enhance the property’s appeal but also ensure long-term reliability and lower maintenance costs.

?? Prime Location Located in a central Spokane neighborhood, the property is close to major employers, schools, parks, and restaurants. This strategic location ensures high tenant demand and strong occupancy rates.

?? Strong Market Fundamentals Spokane’s rental market is thriving, driven by its affordable cost of living, strong job market, and an influx of new residents. Investing in a prime multifamily property like West Spofford Apartments allows you to capitalize on these positive market trends.

?? Why This Property Stands Out The West Spofford Apartments offer a unique mix of stability and upside potential. Recent upgrades and a strong location provide a solid foundation, while below-market rents and renovation potential create a clear path to increased cash flow and appreciation. Whether you're an experienced investor or new to multifamily, this property is a standout opportunity in Spokane’s competitive market.

?? Next Steps To dive deeper into this investment opportunity, including detailed financials, unit mix, and renovation plans, visit buywestspofford.com to download the full marketing package.

?Contact:

• Max Frame : 509.494.3116

Don’t miss your chance to invest in a high-potential property in one of Spokane’s most desirable neighborhoods. Reach out today to schedule a call or property tour and take the first step toward securing this exceptional investment opportunity!

If you want to enter the next real estate cycle a big winner, you can READ ON

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