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5312 E Union Ave
Spokane, WA 99207

Spokane Area Rental

  • 5,040 Sqft
  • 0.34 Acre

$895,000

4 Months on market

MLS# 202515656

Listing courtesy of Spokane Association of REALTORS MLS as distributed by MLS GRID.

Pleased to present the Union Apartments for sale. A low-maintenance, value-add apartment building with strong upside potential. The property includes eight 1-BD/1BA units, onsite laundry, yard area, and dedicated parking for each unit plus additional street parking. Competitive price point at $111,875 per unit, this asset outperforms market comps with an average of $128,073 per unit. Upside potential, opportunity to increase rents by 3.32% to market rates with as-is unit interiors offering strong immediate and long term income potential w/ 6.20% pro forma cap rate. Located in Chief Garry Park, this property offers quick access to Downtown Spokane and Feltz field, making it a desirable rental spot. Valuable amenities include onsite laundry and dedicated parking for each unit to enhance tenant satisfaction & retention. 1BD/1BA units are in strong demand, appealing to singles, couples, and professionals which supports steady occupancy and income!

SqFt: 5,040
County: Spokane
Year Built: 1912
Basement
  • None
Garage / Parking
  • Shared Driveway
Heating / Cooling
  • See Remarks
Roof
  • See Remarks

Office Details
Windermere Manito, LLC  —  (509) 747-1051

Broker Reciprocity MLS Disclaimer: Copyright of the Spokane Association of REALTORS MLS. All rights reserved. Listing information deemed reliable but not guaranteed.

IDX listing information is provided exclusively for consumers’ personal, noncommercial use. All other uses are strictly prohibited. The listing information displayed herein is based on information submitted to the MLS GRID as of 8/11/2025, 12:23 AM. 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.