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Listed by:Kidder Mathews • Max Frame
$6,400,000
Est. payment /mo
1 Bed
5 Baths
56,800 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 56,800 sqft
Price per Sqft $112
Subdivision Spokane
MLS Listing ID 2595441
Style 56 - 10+ Units
Bedrooms 1
Year Built 1890
Annual Tax Amount $21,819
Lot Size 0.326 Acres
Lot Dimensions 14200
Property Sub-Type Multi Family
Property Description
Kidder Mathews is pleased to present 206 Flats, a 74-unit apartment community with three ground-floor commercial spaces located in the heart of Downtown Spokane. Originally constructed in 1890, this seven-story, 56,800 SF historic property has undergone millions of dollars in renovations, including updated electrical and plumbing systems, fire sprinklers, renovated unit interiors, and significant mechanical upgrades. The property features 60 studio apartments, 14 one-bedroom units, central air conditioning, shared laundry facilities, two elevators, and underground parking. 206 Flats offers investors a stabilized, income-producing asset with a history of 95%+ occupancy, established commercial tenants with long-term leases and annual rent increases, and additional upside through rental growth and potential repurposing of underutilized common areas. Ideally positioned near Spokane's Hospital District, University District, Riverfront Park, shopping, dining, and major employment centers, 206 Flats represents a compelling opportunity to acquire a renovated mixed-use investment property in Downtown Spokane.
Location
State WA
County Spokane
Area 561 - Spokane County
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Brick
Garage Spaces 12.0
View Y/N Yes
View City
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Spokane
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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