$2,000,000

1204 W 8th Ave

Spokane, WA 99204

Listed by Ryan Towner, LT Real Estate

Pending
Units
19
Built
1907
On market
6 days
Cap rate~8.8%
Cash-on-cash~7.9%
Cash flow+$3,632
Aaron Beal

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Purchase details

Purchase price
Closing costs 2.5%
Repairs and remodel

Loan details

Down payment
Interest rateour standard rate

Rents

Rents coming in⁠not on the MLS, confirmed with the listing agent

Expenses

Principal & interest11,038
Property tax 2026⁠Left blank
Insurance⁠No spot on MLS
Sewer⁠Left blank
Water⁠Left blank
Garbage⁠No spot on MLS
Left over after mortgage and expenses6,955

Set aside

Vacancy
Maintenance
Capital repairs
Management
Set aside for vacancy and maintenance3,324

What is left

Cash left over each month+$3,632

The units

UnitBedsBathsSq ftRent / moRentometerestimatedRentCastestimated
111640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
211640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
311640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
411640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
511640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
611640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
711640$950estimated Rentometer $1,100 · RentCast $950$1,100$950
821640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
921640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1021640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1121640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1221640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1321640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1421640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1521640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1621640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1721640$1,250estimated Rentometer $1,400 · RentCast $1,250$1,400$1,250
1831640$1,503estimated Rentometer $2,985 · RentCast $1,275$2,985$1,275
1931640$1,503estimated Rentometer $2,985 · RentCast $1,275$2,985$1,275

These 19 units add up to $22,156 a month. Those rents were confirmed with the listing agent.

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Price history

  1. May 29, 2026Listed for sale$2,000,000$105,263/unit

About the building

This South Hill multifamily portfolio offers a unique opportunity to acquire 19 units across three buildings on two parcels in one of Spokane’s most desired neighborhoods. The portfolio features a diverse unit mix of seven 1-bedroom units, ten 2-bedroom units, and two 3-bedroom units. The properties generate strong cash flow with additional income from 13 garages, while tenant amenities include on-site laundry. Many units have been updated, and residents enjoy a highly desirable location within walking distance of neighborhood amenities, parks, restaurants, and shopping, with convenient access to downtown Spokane and I-90. Combining scale, unit diversity, supplemental garage income, and a prime South Hill location, this portfolio presents an exceptional opportunity for investors seeking a well-positioned multifamily asset with both stable returns and future upside potential.

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Listed by Ryan Towner, LT Real Estate · MLS# 202618313 · Pending

Cap rate, cash flow and cash-on-cash are Beal Estate NW’s own analysis, not MLS data — they follow the financing assumptions shown on this page, and they are not a valuation of the property and not investment advice. Talk to your lender, your accountant and your own advisers before you rely on any of it. MLS GridListings courtesy of Spokane REALTORS® as distributed by MLS Grid. Based on information submitted to the MLS GRID as of 9/29/2026, 3:45:00 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing; any other use or search of the data on this site is prohibited. Deemed reliable but not guaranteed accurate by MLS Grid. Verify everything before you write an offer. Report a copyright problem.