Cannon House

Multi-Family for Sale
Catylist Listing ID: 30524738
Number of Units: 6 Units
Building Size (RSF): 5,445 SF
Gross Land Area: 0.23 Acres
Sale Price: $950,000
Unit Price: $158,333.33 Per Unit
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Undisclosed
Cap Rate: 6.5%
Last Updated: 3/22/2020

Overview / Comments

The Cannon House is a 6-unit apartment / extended stay / corporate housing project located in the desirable Lower South Hill Neighborhood of Spokane, Washington. Current monthly rates are well below the few other corporate/extended stay options in the Spokane area, many of which can run in excess of $3,000/month for a similar level of services and amenities. Landlord prefers to keep rents below, maintain full occupancy and be more selective with prospective residents. Over the past several years the only vacancy has been short periods in between tenants booked well in advance. In fact, some of the extended stay tenants have remained for as long as 4 years.

Attachments & Media

Additional Details

Nearest MSA: Spokane-Spokane Valley
County: Spokane
Tax ID/APN: 25244.4516
Total Number of Buildings: 2
Number of Stories: 3
Year Built: 1907

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,100 96,870 199,519
Median Age: 39.27 35.96 36.05
Households: 7,902 41,905 84,116


Photograph of Listing Agent

Chris Schreiber

Kiemle Hagood NWCRE Member
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