3203 N Smith St, Spokane, WA 99207

Property Description

Well-maintained 12-unit apartment building offering a stable and consistent income stream with a proven track record of performance. The unit mix consists of nine 1-bedroom units and three 2-bedroom units—an ideal blend in today’s market, with strong demand for 1-bedroom housing helping drive consistent occupancy. The property is currently operating at approximately 83% occupancy with room to increase revenue through lease-up and continued rent optimization . Ownership has completed light updates during unit turns, helping maintain condition while supporting long-term tenant retention. Financials show strong, steady income with over $131K in rental income and additional revenue streams including utility bill-backs and pet rent . On-site laundry provides further upside potential, and low-maintenance grounds keep operating expenses manageable. Professionally managed with systems in place, this is a “steady eddie” asset ideal for investors seeking reliable cash flow with upside.