Map of Property

Union Apartments

For Sale

5312 E Union Ave, Spokane, WA 99212

This Spokane property for sale is located at 5312 E Union Ave. The current listed sale price for Union Apartments is $925,000. Union Apartments is situated on a lot that is 0.34 acre in size.

Contacts

broker
Jordan Lester, CCIM, MBA

SVN | Cornerstone

Property Details

  • Property Type Multi-Family
  • Property Size 5,040 SF
  • Units 8
  • Lot Size 0.34 Acre
  • Year Built 1912
  • Date Updated Apr 22, 2025
SpokaneSVN Cornerstone is pleased to present the Union Apartments for sale - a low-maintenance, value-add apartment building with strong upside potential. The property includes eight 1 bedroom 1 bathroom units, onsite laundry, a yard area, and dedicated parking for each unit plus additional street parking.
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Highlights

  • Competitive Price Point - Priced at $115,625/unit with a 6.18% cap rate, this asset outperforms market comps with an average of $128,073/unit and a 6.07% cap rate
  • Upside Potential - Opportunity to increase rents by 4.8% to market rates with as-is unit interiors offering strong immediate and long-term income potential, with a 6.62% pro forma cap rate
  • Central Location - Located in Chief Garry Park, this property offers quick access to Downtown Spokane, Gonzaga University, Spokane Community College, I-90, public transit, Mission Park, the Centennial Trail, and Felts Field, making it a desirable rental spot
  • Valuable Amenities - Onsite laundry and dedicated parking for each unit enhance tenant satisfaction and retention
  • Strong Rental Demand - 1 bed/1 bath units appeal to singles, couples, and professionals, supporting steady occupancy and income

Getting around

  • 26/100

    Walk Score ®

  • 30/100

    Transit Score ®

  • 44/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Spokane, WA
  • Neighborhood Chief Garry Park
  • Zip Code 99212
  • Market Spokane

Points of Interest

  • Mobil

    0.38 miles

  • Pacific Pride Commercial Fueling

    0.81 miles

  • Chevron

    0.84 miles

  • Royal Express

    1.03 miles

  • Conoco

    1.13 miles

  • Costco Gasoline

    1.27 miles

  • Exxon

    1.56 miles

  • ChargePoint

    4.71 miles

  • Tesla Destination Charger - Hampton Inn Spokane

    7.32 miles

  • Lot P4

    1.04 miles

  • P25

    1.08 miles

  • Lot P5

    1.13 miles

  • Lot P28

    1.17 miles

  • Lot P3

    1.17 miles

  • Lot P2

    1.20 miles

  • Lot P6

    1.24 miles

  • Lot P7

    1.25 miles

  • Lot P8

    1.26 miles

  • Lot P1

    1.28 miles

  • Rodeway Inn & Suites Spokane

    1.02 miles

  • Red Top Motel

    1.15 miles

  • Maple Tree Motel & RV Park

    1.44 miles

  • Park Lane Motel

    1.50 miles

  • Motel 6

    2.18 miles

  • Fairfield Inn & Suites

    2.18 miles

  • Baymont Inn & Suites

    2.35 miles

  • Super 8 Spokane Valley

    2.35 miles

  • Holiday Inn Express Spokane Valley

    2.39 miles

  • Bel Air Seven Motel

    3.06 miles

  • Walmart Supercenter

    1.26 miles

  • Safeway

    2.08 miles

  • Fred Meyer

    2.18 miles

  • Buruk Mini Mart

    2.35 miles

  • Yoke's Fresh Market

    2.42 miles

  • Green's Fresh Market

    2.43 miles

  • Bargain Giant

    2.50 miles

  • Best Asian Market

    2.64 miles

  • Logan Square

    3.77 miles

  • JCPenney

    4.00 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Jordan Lester, CCIM, MBA

SVN | Cornerstone

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