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Marcus & Millichap Sells Lincoln Townhomes Multifamily Property In Spokane For $2.1M
SOLD
$2,100,000
Washington
See Similar DealsMultiFamily
Sold 09/29/2025
SOLD
Marcus & Millichap Sells Lincoln Townhomes Multifamily Property In Spokane For $2.1M
3270 North Lincoln Street
See Similar DealsMultiFamily
Sold 09/29/2025
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
A 10-unit multifamily property located at 3270 North Lincoln Street in Spokane, WA has been sold for $2,100,000. The property, known as Lincoln Townhomes, was constructed in 2017, making it a newer addition to the multifamily market. The price per unit was $210,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 10
- Price Per Unit: $210,000
- Date of Sale: 10/29/2025
- Market: Spokane, WA
Zach Howe from Marcus & Millichap represented the buyer in the transaction, who was completing a 1031 exchange, moving from a 1960s apartment to the newer townhomes that are utilizing third-party management services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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