The current vacancy rates for apartment buildings in Spokane is 1.3% based on a Spring 2018 survey by the Washington State Runstad Department of Real Estate. The vacancy rate has remained below 2% for several years. Spokane Valley and South Spokane have the lowest vacancy rate for apartment buildings these days. All of this means that the local real estate market is doing well. Multi-family properties in these areas are highly demanded and provide real estate buyers with a good income potential and great investment opportunities. Today, we’ll give you some insights into apartment buildings in Spokane, WA.

Different Types of Apartment Buildings for Sale in Spokane WA

The question is – what types of apartment buildings are available for sale in Spokane, WA? Actually, there are different types of multi-family housing available in Spokane, WA. These include condos, townhouses, duplexes, garden-style apartment buildings as well as large multi-family properties.

Prices on Apartment Buildings in Spokane WA

The next important question is – how much do apartment buildings in Spokane WA cost? Let’s assume that you are planning to purchase an apartment property. In this case, you should set up a budget for a purchase. Or, maybe, you would like to sell an apartment building? If so, you’ll need to determine the right asking price for your property. One way or another, it’s incredibly important for you to analyze the current prices on multi-family buildings in Spokane WA carefully. Now, let’s dig deeper into this question.

It’s fair to say that the prices of apartment buildings largely depend on such factors as the type of property, property condition, location, the number of stores and many others. Let’s assume that your budget doesn’t allow you to purchase condos, townhomes and other types of expensive apartment properties in the Spokane WA area. In this case, you should pay a close attention to small multi-family houses. It’s worth noting that small multi-family homes are the cheapest option. You’ll be able to purchase a small Spokane WA single-family property in a good condition for $110,000 – $175,000. The prices on condos in Spokane WA range between $100,000 and $385,000. On average, a condo in Spokane costs between $230,000 and $300,000. If, for example, you are interested in duplexes, then you must be prepared to pay about $300,000 – $500,000. However, if large multi-family apartment buildings are more to your liking, then you should be prepared to spend at least $1,000, 000 to buy this type of property.

Where to Buy Apartment Buildings in Spokane WA?

And the last question is – where to look for apartment buildings in the greater Spokane area? Traditionally, a lot of multi-family homes are available for sale in the Eastern-central part of Spokane and on Spokane Valley.
If you are interested in buying or selling an apartment building in the Spokane, WA area, contact us today. We can help you either find your dream apartment building quickly or sell your multi-family property fast. Our real estate specialists are always looking forward to helping you with any of your needs!