Properties Recently Sold
Sunset Hill Apartments
$7.1 million
Sunset Hill Apartments
2804 W 7th Ave, Spokane, WA
57-Unit
Sunset Hill is a 57 unit apartment complex just outside the Browne’s Addition which abuts High Bridge Park. The apartment is just two miles from downtown Spokane, and is right off the bus line making access easy to downtown.
The complex consists of five structures and spans over an acre and a half. The unit mix has twenty-five 1Bed/1Bath units and thirty-two 2Bed/1Bath units.
Sunset Hill apartments traded at a 4.25% cap rate and is poised for rental increases of around 30-40% plus the implementation of a utility bill back. The complex is trending to a 7.5% cap rate after rehab.
Current Cap Rate | 4.26% |
Proforma Cap Rate | 7.48% |
Built | 1979 |
Price per SqFt | $176 |
Price per Unit | $124,561 |
Listing Agents
Aaron Locke
P: 206.774.5436
E: Email Aaron
Ethan Szmania
P: 206.774.5419
E: Email Ethan
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