Iron Bridge Apartments — Sale in Spokane, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Spokane, WA 99202

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Investment Figures

Cap rate
4.48%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the Iron Bridge Apartments, a modern, high-end six-unit apartment building in Spokane, Washington. The 0.52-acre property sits directly along the Spokane River offering rare and highly desirable waterfront living with river views from four of the six units. Built in 2015, this turnkey property pairs exceptional contemporary craftsmanship with custom designed interiors and refined architectural detail. The building features 6 two bedroom/two-bathroom units with an average area of 1,069 square feet. Unit amenities include a dedicated single-car garage for each unit, covered deck/patio, washer and dryer, gas fireplace (in "view" units), and stainless-steel kitchen appliances including refrigerator, gas range, microhood, dishwasher, and garbage disposal. Community amenities include a private yard/patio, secure entry system, and off-street parking (5 spaces). Uniquely positioned in the vibrant University District, the property offers convenient access to Downtown Spokane and the nearby Gonzaga University and Washington State University Spokane campuses. The Iron Bridge Apartments presents a rare opportunity to acquire an income-producing waterfront asset in a core urban market. With a proven rental history, the property provides stable, consistent cash flow, while the strategic University District location underpins its long-term value. Spokane is a thriving urban metropolitan area that serves as the economic, educational, and cultural hub of the Inland Northwest. Total population estimates for the region are near 800,000 and continue to grow year-over-year. Investment Highlights: • Waterfront Property • Modern Construction • Spacious Units • Upscale Amenities • Strategic Location • Core Spokane MSA

Market Context

This multifamily in Spokane, WA is listed for sale. It is offered at an approximate 4.5% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Spokane, WA — view the full market.

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