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Riverside10
For Sale

Riverside10

10-unit Historic Multifamily Investment in Spokane, WA

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  • Prime submarket icon

    Historic Character

    Originally built in 1900, Riverside10 combines historic Spokane character with thoughtful updates throughout. The property offers a distinctive living experience with enduring architectural appeal in one of Spokane’s established historic neighborhoods.

  • Townhome value-add icon

    Proven Short-Term Rental

    One unit has demonstrated successful short-term rental performance and benefits from its own private exterior entrance. The existing setup provides ownership with added flexibility to capture alternative rental income alongside traditional apartment operations.

  • Multifamily asset icon

    Operational Upside

    Riverside10 offers additional upside through improved property operations and revenue management. Active ownership creates the opportunity to increase cash flow performance while building upon the property’s established tenant appeal and desirable location.

  • Regional growth icon

    Premier Location

    Located in historic Browne’s Addition, Riverside10 offers a highly walkable setting immediately west of Downtown Spokane. Residents enjoy convenient access to neighborhood restaurants, Coeur d’Alene Park, downtown amenities, and major Spokane thoroughfares, providing easy access to area employment centers.

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Offering Details

Offered at $1,200,000, or $120,000 per unit, Riverside10 provides the opportunity to acquire a differentiated historic asset in one of Spokane's most established urban neighborhoods. There is upside through improved operations, revenue management, and continued optimization of the property's existing rental strategy.

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Property Summary

Property Name

Riverside10


Address

1927 W Riverside Ave


City, State, Zip

Spokane, WA 99201


Year Built

1900


Parcel ID

25241.0504


Zoning

RHD


Acreage

0.12


# of Units

10


SF Per Unit

600


Net Rentable Space

6,000 SF


Pricing Summary

Price

$1,200,000


Price / Unit

$120,000


Price / SF

$200.00


Current CAP Rate

7.77%


Proforma CAP Rate

7.98%


Aerial view of Riverside10 and its Spokane neighborhood

The Opportunity

Riverside10 offers investors the opportunity to acquire a distinctive 10-unit multifamily property in Spokane’s historic Browne’s Addition neighborhood. Built in 1900, the property combines enduring architectural character with thoughtful updates and an established tenant base, creating an attractive alternative to conventional apartment product.

The investment also offers multiple avenues for operational upside. Improved revenue management and active ownership provide an opportunity to enhance cash flow, while one unit’s established short-term rental use and private exterior entrance create additional flexibility beyond traditional apartment operations. Combined with a highly walkable location immediately west of Downtown Spokane, Riverside10 offers a differentiated investment with both existing appeal and future upside.

The Location

Historic Browne's Addition, Minutes from Downtown Spokane

Map icon1927 W Riverside Ave, Spokane, WA 99201

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Spokane, WA market overview

Market Overview

Spokane, WA

Spokane is the economic and cultural hub of the Inland Northwest and the largest urban market in eastern Washington. The city serves as a regional center for healthcare, education, government, logistics, manufacturing, and professional services, offering investors access to a diversified employment base at a lower cost than many West Coast markets. While population growth has moderated from the rapid gains seen during the prior cycle, Spokane continues to benefit from long-term in-migration, relative affordability, short commute times, and its role as the primary service center between Seattle and the Northern Rockies. The market’s largest employers include Fairchild Air Force Base, Providence Inland Northwest Washington, the State of Washington, Spokane Public Schools, Amazon, and MultiCare Health System - Inland Northwest. Spokane is also a major higher education center, anchored by Gonzaga University, Whitworth University, Eastern Washington University, Washington State University - Spokane, and Community Colleges of Spokane. Spokane International Airport, located approximately seven miles west of downtown, is the second-largest commercial service airport in Washington and recorded its busiest year ever in 2025, with more than 4.35 million passengers. Spokane’s lifestyle remains a key demand driver for residents and employers. The city is situated along the Spokane River and offers year-round access to outdoor recreation, including hiking, biking, skiing, boating, and lake activities throughout eastern Washington and North Idaho. Located between the Cascade and Rocky mountain ranges, Spokane offers four distinct seasons, access to multiple ski resorts within roughly two hours, and dozens of regional lakes, supporting a quality of life that continues to attract new residents and long-term investment capital.

Reasons To Invest Here

  • Graph icon
    0.6%

    Average Rent Growth

    (Q1 2026)

  • Occupancy icon
    92.4%

    Average Occupancy

    (Q1 2026)

  • Briefcase icon
    4.7%

    Unemployment Rate

    (Q1 2026)

  • Money icon
    $1,386

    Median Rent

    (Q1 2026)

  • Population icon
    610K

    Est Population(Spokane MSA)

    (Q1 2026)

  • Home icon
    $86.7k

    Media HH Income

    (Q1 2026)

  • Income icon
    -0.1%

    Home Price Growth(YOY)

    (Q1 2026)

  • Household icon
    $401K

    Median Home Income

    (Q1 2026)

Sources available upon request.

Our Team

Multifamily Mason

Contact Us

Multifamily Mason is a brokerage firm specializing in multifamily property sales and advisory services within the Inland Northwest. We uphold the core values of integrity, mastery, and ownership. These principles guide all our business decisions and interactions with our clients, investors, and stakeholders.

Our extensive market knowledge, in-depth data analysis, valuable insights, and strong industry relationships have established us as trusted advisors and a go-to source for those exploring the Inland Northwest markets or investing in multifamily properties within tertiary markets.

We foster long-term relationships and prioritize our clients' best interests, even if it means delaying immediate deals. We believe in collaboration and creating opportunities for mutual success, including working with potential competitors.

Lead Broker

Peter Clark

Peter Clark

Contact Peter

Peter leads the Spokane/CDA region, leveraging his diverse background that includes eight years with Gonzaga Athletics, the development of a successful gym in Spokane, and the creation of a youth sports performance facility in the Tri-Cities. A Spokane native with degrees from Whitworth University (B.A.) and Gonzaga University (M.A.), Peter combines his sales and business acumen with deep local market knowledge. His commitment to his family and community, coupled with his drive for excellence, allows him to provide valuable expertise and build lasting relationships with multifamily property owners, investors, and developers in the Inland Northwest.

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