About this home

Kidder Mathews is pleased to present 206 Flats, a 74-unit apartment community with three ground-floor commercial spaces located in the heart of Downtown Spokane. Originally constructed in 1890, this seven-story, 56,800 SF historic property has undergone millions of dollars in renovations, including updated electrical and plumbing systems, fire sprinklers, renovated unit interiors, and significant mechanical upgrades. The property features 60 studio apartments, 14 one-bedroom units, central air conditioning, shared laundry facilities, two elevators, and underground parking. 206 Flats offers investors a stabilized, income-producing asset with a history of 95%+ occupancy, established commercial tenants with long-term leases and annual rent increases, and additional upside through rental growth and potential repurposing of underutilized common areas. Ideally positioned near Spokane's Hospital District, University District, Riverfront Park, shopping, dining, and major employment centers, 206 Flats represents a compelling opportunity to acquire a renovated mixed-use investment property in Downtown Spokane.

Around this home

Property details

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• Roosevelt Elementary

  Public · Grades PK-6 · 0.9 mi · State rank 385 of 1,138
  6/10
• Sacajawea Middle School

  Public · Grades 6-8 · 2.2 mi · State rank 58 of 514
  8/10
• Lewis & Clark High School

  Public · Grades 9-12 · 0.2 mi · State rank 66 of 396
  8/10

Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.

Source: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.

Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.

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A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.

Market pulse

Spokane is a balanced market.

Supply and demand are roughly in balance. Neither side has a clear edge.

• Offer insight: Well-priced homes draw multiple offers; others sell close to asking.

• List to sale price: The average home sells very close to list price.

• Time on market: The average home goes pending in around 36 days.

Market data from MLS GRID / NWMLS · Updated Nov 2026

Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.