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Updated over 8 years ago,

User Stats

36
Posts
13
Votes
Justin Kroepfl
  • Lender
  • Denver, CO
13
Votes |
36
Posts

6 unit in Spokane, WA possibly may go under contract

Justin Kroepfl
  • Lender
  • Denver, CO
Posted

Hey all I met a potential client today to look at an off market 6 unit building in the lower South Hill Historic district of Spokane, WA. I am throwing this out to any cash buyers looking to grow their potfolio in the area. THis would be my first wholesale deal although I do own a few duplexes out here. I am looking to see what buyers are looking for in this area and what you may be willing to pay for somthing like this. The property is older and is located in a historic district which means outside imoprovements must be to their approval. It has 6 units which include a 2 bd/1 ba, 2 1 bd/1 ba, and 2 Studio / 1ba. There is a large basement for storage and onsite coin operated laundry. The building is located on a double lot and has 6 off street parking spaces. Currently it is 100% occupied but the rents are far below average from my research. In my estimate it should cost around 75K to update properly and the new rent can total at least 3000/month. I am looking to make a name for myself and build a quality reputation in my area and as such I plan on leaving plenty of meat on the bone for everyone to come away from this transaction happy. If you need any more details you can message. I would love to hear some tips and/or offers you would pay as the cash buyer. 

Thank you all for any input!!

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