Investment Overview

North Astor Flats is a two structure complex consisting of 18 units and situated on a 0.26-acre parcel in Spokane, Washington. The unit mix is 6 studios and 12 two bedroom units. In unit amenities include electric oven/range, refrigerator, dishwasher, electric wall heaters, air conditioning, washer and dryer. Community amenities include off street parking and secure mail. The property is located off of North Astor Street, in the desirable Lidgerwood neighborhood of north Spokane. The property has a Walk Score of 81, Very Walkable. Bus stops for routes 31 and 35 with access to the Town and Country neighborhood and Downtown Spokane. Trader Joe’s and other nearby retail are within a half mile of the property. Providence Holy Family Hospital with over 1,000 employees and including more than 180 doctors is quarter mile from the property. Lidgerwood Elementary and Gary Middle School are within walking distance of the property while Rogers High School and Whitworth University and two and three miles from the property respectively. Nearby recreation includes Nevada Playfield and Franklin Park. Spokane is the second largest city in the State of Washington. The metro area boast a population of over 600,000. Major employers in the metro area include Providence Inland Northwest, Amazon, Multicare, CHAS Health, Walmart, Kaiser Aluminum, and Spokane Teachers Credit Union. Spokane experiences all four seasons and residents can enjoy year-round outdoor recreational activities including hiking, skiing, rafting, mountaineering, camping, and fishing. For those who call Spokane home, it is a unique region that presents the best the Inland Northwest has to offer. As the median home price in Spokane nears $430,000 and interest rates remain near 7%, new home buyers are looking at all in cost of nearly $3,000 per month. North Astor Flats’ market rents are well below that figure, making it is well-positioned to capture a quality pool of renters who are seeking an affordable, yet spacious alternative to call home. A new investor will do well targeting this renter pool.