Lincoln Apartments

Investment Overview

SVN Cornerstone is pleased to present the Lincoln Apartments for sale, located at 1414 N Lincoln St in Spokane’s Emerson Garfield neighborhood. The property consists of 9 units, including 1 2bed/1bath unit, 7 1bed/1bath units, and 1 studio, along with common laundry facilities for tenants. Recent capital improvements include doubling the building’s electrical capacity with the addition of a second electrical panel, removing knob and tube wiring from 3 second floor units, replacing the roof in July of 2020, and installing a new boiler in January 2026.

Investment Highlights

• 100% Occupied: All units are currently rented and professionally managed, providing strong in place performance
• Turnkey Investment: Recent capital improvements reduce near term capital needs for new ownership
• Additional Land Available: Adjacent 0.16 acre parcel zoned RHD 55 is also available for purchase
• Utility Expense Reduction: Ownership currently pays all utilities, creating an opportunity for a new owner to separately meter gas and electricity and implement a RUBS program to recover water, sewer, and garbage expenses
• Value Add Opportunity: Upside potential through rent increases, unit renovations to support additional rental growth, and acquisition of the adjacent land