Multifamily
Alcliff Apartments
1806 W Pacific Ave, Spokane, WA 99201
Listing Price: $2,400,000
Investment Overview
The Alcliff Apartments is a 27-unit building located just South of the Spokane river in the Browne’s Addition neighborhood. The apartments were built in 1942 but went under extensive renovations in 1995 including double vinyl windows and baseboard heating. The building is situated on a quarter of an acre and is three stories tall with an underground parking garage. The unit mix for the Alcliff is 26 one-bedroom apartments and 1 two-bedroom apartment. The one-bedroom units have an average square footage of 555 and the two-bedroom unit has 650 square feet. The underground garage has 8 reservable parking spaces for tenants, but street parking is also available.
Located under a mile from the city center and Riverfront Park, the Alcliff Apartments is a centrally located community just off the main boulevard in historic Browne’s Addition. With 3 grocery stores within a 5-minute walk, it features a walk score of 89, a transit score of 60, and a bike score of 74. Close to multiple city parks including Overlook, High Bridge, Coeur D’Alene, Glover Field, Redband, and Riverfront Parks all being within a 20-minute walk from the Alcliff. Along with the many breweries, wineries, restaurants, and community amenities all within walking distance.
The Spokane market has seen lots of growth in recent years and is still the second largest city within the state. The city of Spokane makes up over 40% of the county which totals 549,690 people.
The Alcliff Apartments feature extensive renovations, understructure parking, an ample tenant base, and offers a great opportunity for any owner
Alcliff Apartments
Investment Highlights
- Strong Upside: By raising rents to market, renovating units, fully renting the parking spaces and the implementation of RUBS there is ample opportunity to increase potential income.
- Walkability: With proximity to transit, downtown, and nearby groceries and restaurants, tenants will not need a car for almost all day-to-day activities.
- Neighborhood Assets: Nearby Parks, grocery stores, restaurants, museums, institutes of higher learning, and many major employers in the region are all within minutes from the Alcliff Apartments.
Exclusively Listed By
Listing Price: $2,400,000
Investment Highlights
- Strong Upside: By raising rents to market, renovating units, fully renting the parking spaces and the implementation of RUBS there is ample opportunity to increase potential income.
- Walkability: With proximity to transit, downtown, and nearby groceries and restaurants, tenants will not need a car for almost all day-to-day activities.
- Neighborhood Assets: Nearby Parks, grocery stores, restaurants, museums, institutes of higher learning, and many major employers in the region are all within minutes from the Alcliff Apartments.
Investment Overview
The Alcliff Apartments is a 27-unit building located just South of the Spokane river in the Browne’s Addition neighborhood. The apartments were built in 1942 but went under extensive renovations in 1995 including double vinyl windows and baseboard heating. The building is situated on a quarter of an acre and is three stories tall with an underground parking garage. The unit mix for the Alcliff is 26 one-bedroom apartments and 1 two-bedroom apartment. The one-bedroom units have an average square footage of 555 and the two-bedroom unit has 650 square feet. The underground garage has 8 reservable parking spaces for tenants, but street parking is also available. Located under a mile from the city center and Riverfront Park, the Alcliff Apartments is a centrally located community just off the main boulevard in historic Browne’s Addition. With 3 grocery stores within a 5-minute walk, it features a walk score of 89, a transit score of 60, and a bike score of 74. Close to multiple city parks including Overlook, High Bridge, Coeur D’Alene, Glover Field, Redband, and Riverfront Parks all being within a 20-minute walk from the Alcliff. Along with the many breweries, wineries, restaurants, and community amenities all within walking distance. The Spokane market has seen lots of growth in recent years and is still the second largest city within the state. The city of Spokane makes up over 40% of the county which totals 549,690 people. The Alcliff Apartments feature extensive renovations, understructure parking, an ample tenant base, and offers a great opportunity for any owner
Exclusively Listed By
