Map of Property

Union Apartments

5312 E Union Ave, Spokane, WA 99212

  • For Sale $925,000
  • 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

Contacts

broker
Jordan Lester, CCIM, MBA

SVN | Cornerstone

Location

Getting Around

  • Walk Score ®

    26/100 Car-Dependent

  • Transit Score ®

    30/100 Some Transit

  • Bike Score ®

    44/100 Somewhat Bikeable
Powered by Walk Score ®
  • 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

  • Chinese Gardens

    0.11 miles

  • Subway

    0.23 miles

  • Zip's

    0.30 miles

  • Burger Royal

    0.45 miles

  • Skyway Cafe

    0.61 miles

  • Broadway Diner

    1.13 miles

  • IHOP

    1.30 miles

  • Wendy's

    1.30 miles

  • Tacos El Carbon

    1.36 miles

  • Panda Express

    1.38 miles

  • Seth Woodard Elementary School

    1.26 miles

  • Spokane Community College

    1.26 miles

  • Saint Paschals School

    1.28 miles

  • Orchard Center Elementary School

    1.42 miles

  • Cooper Elementary School

    1.49 miles

  • Centennial Middle School

    1.57 miles

  • Inland Empire Electrical Training Trust

    1.83 miles

  • Eagle Peak School

    1.84 miles

  • Instructional Technology Support Center

    1.91 miles

  • West Valley High School

    1.94 miles

  • Planet Kids Childcare Center

    1.62 miles

  • Bright Futures Academy

    2.29 miles

  • Where Little People Grow

    2.33 miles

  • Mullan Road KinderCare

    2.56 miles

  • Logan / Lidgerwood Head Start

    3.13 miles

  • Kid Central Early Learning Center

    3.29 miles

  • Crayon College

    3.61 miles

  • Little Learner Child Devolopment Center

    3.64 miles

  • North Avenue Learning Center

    3.66 miles

  • Journey Discovery Center

    3.88 miles

Frequently Asked Questions

How much does Union Apartments cost?

The space currently listed for sale at Union Apartments asks for $925,000.

What is the total square footage of Union Apartments?

Union Apartments totals 5,040 square feet.

When was this property built?

Union Apartments was built in 1912.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker
Jordan Lester, CCIM, MBA

SVN | Cornerstone

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