Investing in real estate is one of the most lucrative ways to grow your wealth. And when it comes to investing in property, location is key. That’s why the Washington Investment Property for Sale is a rare find that you should not miss.
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This property offers two 1 1/2 story brick turn of the century homes, built with quality and character that are hard to find in modern construction. What’s more, it comes with 5 lots on one parcel, which gives you plenty of potential to develop the property into something even more valuable.
Currently, the property is being used as two rental homes, which means you can start earning rental income from day one. The homes are in good condition and have been well-maintained, making them an attractive option for tenants.
But the real value of this property lies in its location. It is conveniently located near downtown, within walking distance to the new Podium and the Spokane Arena. It is also between Kendall Yards and Gonzaga University, which are two of the most sought-after neighborhoods in Spokane.
Another advantage of this property is that it falls within an Opportunity Zone. Opportunity Zones were created by the Tax Cuts and Jobs Act of 2017 to encourage investment in economically distressed areas. Investors who put their money into Opportunity Zones can enjoy significant tax benefits, including deferral of capital gains taxes and potential tax-free appreciation.
If you’re looking to restore the homes to their original glory, this property offers a great opportunity to do so. The homes have plenty of potential to be transformed into stunning residences that will attract high-paying tenants or buyers.
Alternatively, you can use the parcel as a future building site for an apartment complex, condos, or any other type of business. With its prime location, you can be sure that any development on this property will be in high demand.
The property is currently zoned CB150, which allows for a variety of commercial and residential uses. This gives you the flexibility to develop the property in a way that suits your investment goals.
538 W Sinto offers 3 bedrooms up, an open staircase, a main floor bath, formal living room, and a dining room with a built-in cabinet. 540 W Sinto, on the other hand, features a large living room with the original fireplace and tall ceilings, updated kitchen and bath, main floor laundry, and 2 bedrooms and a full bath up.
If you’re interested in this property, do not disturb the tenants. Instead, contact a reputable real estate agent who can guide you through the buying process and help you capitalize on the opportunity zone benefits. Don’t miss out on this rare opportunity to invest in one of the most desirable locations in Spokane.
540 W Sinto, Spokane, WA 99201-2428