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    South Hill 5-Plex Rental Property
    Updated: Jul 17
    South Hill 5-Plex Rental Property

    1621 W 9TH Ave, Spokane, WA 99223

    $529,000
    4,535 sqft 0.16 AC lot
    South Hill 5‑plex with 4 units in the main residence plus a detached backyard cottage for the 5th unit
    All units are separately metered for electricity
    Basement includes individual tenant storage areas plus a shared laundry facility
    Detached cottage adds flexible rental layout within the property’s 5‑unit setup
    Built in 1907 with Craftsman style; wood siding and a composition roof
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    This listing looks promising.

    Here's a quick look at some key insights for

    1621 W 9TH Ave, Spokane, WA 99223

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    • Est. Cap Rate

      8.5%
      Above avg (5.9%)

    • Est. NOI

      $45K
      Annual

    • Price @ 7% Cap

      $644K
      Above asking

    • Property Type

      Quadplex
      Built 1907
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    Spokane 10-Unit Apartment Building
    Updated: Jun 1
    Spokane 10-Unit Apartment Building

    6511 N Atlantic St, Spokane, WA 99208

    $1,790,000
    7,950 sqft 0.44 AC lot
    10‑unit apartment building with 7,950 sq ft on a 150' x 128' lot
    Unit mix: nine 750 sq ft 2 bed/1 bath units and one 550 sq ft 1 bed/1 bath unit
    All 10 units are leased out
    Two‑level building with covered parking and a front yard with sprinkler system
    Brick construction with composition roof; heating includes baseboard and electric; cooling via wall units
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    South Hill Multifamily Investment Opportunity
    South Hill Multifamily Investment Opportunity

    928 W 7th Ave, Spokane, WA 99204

    $1,050,000
    6,200 sqft 0.27 AC lot

    Well-maintained, fully occupied 6-unit building in Spokane's South Hill.

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    Renovated 7-Unit Apartment Building
    Renovated 7-Unit Apartment Building

    3123-3125 E Carlisle Avenue, Spokane, WA 99207

    $980,000
    5,250 sqft

    Fully renovated, 100% occupied 7-unit building with uniform two-bedroom, one-bath units designed for straightforward operations.

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    Renovated Browne's Addition 5-Plex
    Renovated Browne's Addition 5-Plex

    2109 W Pacific Ave, Spokane, WA 99201

    $800,000
    3,892 sqft 0.19 AC lot

    Stunning, fully renovated 5-plex in the heart of Browne's Addition.

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    Turnkey 6-Plex Apartment Building
    Turnkey 6-Plex Apartment Building

    2214 W Northwest Blvd, Spokane, WA 99204

    $499,900
    2,832 sqft 0.22 AC lot

    Fully occupied 6-plex with on-site laundry, tenant storage, and off-street parking for a straightforward multifamily ownership experience.

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    Well-Maintained Apartment Building
    Well-Maintained Apartment Building

    2228 N Astor St, Spokane, WA 99207

    $945,000
    9,327 sqft 0.17 AC lot

    Renovated apartment building with a mix of studios, one-, two-, and three-bedroom units, plus common laundry and outdoor space.

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    Spokane Investment Opportunity
    Spokane Investment Opportunity

    5012 N Regal St, Spokane, WA 99217

    $1,100,000
    4,898 sqft

    9-unit studio apartment building plus a single-family residence.

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    Student Housing Apartment Building
    Student Housing Apartment Building

    418 E Mission Ave, Spokane, WA 99202

    $1,050,000
    6,000 sqft 0.16 AC lot

    Villa Maria Apartments offers furnished, room-rented student housing with shared baths, laundry, and multiple common areas.

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    Renovated Multifamily with On-Site Parking
    Renovated Multifamily with On-Site Parking

    1427 W 7th Ave, Spokane, WA 99204

    $645,000
    3,919 sqft 0.16 AC lot

    Renovated 6-unit apartment building with a mix of studios and 1-bed units and on-site parking for added convenience.

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    Downtown Spokane Mixed-Use Building
    Downtown Spokane Mixed-Use Building

    218-224 S Howard St, Spokane, WA

    $1,800,000
    20,634 sqft 0.10 AC lot

    40 apartments and 2 retail suites in downtown Spokane.

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    Multifamily Building with SRO Units
    Multifamily Building with SRO Units

    3011 E Queen Ave, Spokane, WA 99217

    $395,000
    4,656 sqft 0.11 AC lot

    Apartment building with newly updated interiors and a unit mix including 1- and 2-bedroom layouts plus single room occupancy units.

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    Seven-Unit Apartment Community
    Seven-Unit Apartment Community

    1704 N Ash St, Spokane, WA 99205

    $495,000
    4,802 sqft 0.14 AC lot

    Two-building, seven-unit multifamily property with recent electrical, exterior, and furnace upgrades.

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    Mixed-Use Property in South Hill
    Mixed-Use Property in South Hill

    507 S Howard St, Spokane, WA

    $4,250,000
    42,500 sqft 0.33 AC lot

    Mixed-use property with retail and apartments in Spokane's South Hill.

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    New 18-Unit Apartment Complex
    New 18-Unit Apartment Complex

    505 E Hawthorne Rd, Spokane, WA 99218

    $4,800,000
    0.70 AC lot

    New apartment complex with 1, 2, and 3-bedroom units, currently fully occupied near Whitworth University.

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    Apartment and Mini Storage Property
    Apartment and Mini Storage Property

    3004 E Boone Ave, Spokane, WA 99202

    $1,350,000
    9,294 sqft 0.43 AC lot

    Eight 1-bedroom units plus 28 mini storage units, with common laundry and secured mini storage access.

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    Downtown Mixed-Use Investment Opportunity
    Downtown Mixed-Use Investment Opportunity

    210-222 S Washington St, Spokane, WA

    $1,350,000
    0.28 AC lot

    Two downtown Spokane properties with apartments, retail, and office space.

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    South Hill Multifamily Investment Opportunity
    South Hill Multifamily Investment Opportunity

    618 E 23RD Ave, Spokane, WA 99203

    $775,000
    6,300 sqft 0.13 AC lot

    Spacious multifamily property in premier South Hill neighborhood near Manito Park.

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    7-Unit Apartment Complex
    7-Unit Apartment Complex

    822 East Baldwin Avenue, Spokane, WA 99207

    $750,000

    Apartment complex near Gonzaga University, offering straightforward residential income potential in a high-demand student area.

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    Seven-Unit Apartment Building
    Seven-Unit Apartment Building

    1708 W Gardner Ave, Spokane, WA 99201

    $899,900
    0.14 AC lot

    Seven-unit multifamily property in Spokane with off-street parking and recent system updates.

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    Spokane Mixed-Use Commercial Property
    Spokane Mixed-Use Commercial Property

    5634 E Commerce Ave, Spokane, WA 99207

    $675,000
    8,832 sqft 0.50 AC lot

    Historic mixed-use building with income potential in Spokane, Washington.

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    Spokane Landmark Apartment Building
    Spokane Landmark Apartment Building

    5634 E Commerce Ave, Spokane, WA 99207

    $675,000
    8,832 sqft 0.56 AC lot

    Unique apartment building with expansion potential in Spokane, Washington.

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    25-Unit Apartment Complex
    25-Unit Apartment Complex

    1212 W 7th Ave/618 S Jefferson St, Spokane, WA 99204

    $4,000,000

    Modernized 25-unit multifamily with new roofs and upgraded systems, plus basement storage for tenants.

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    Victorian Multifamily Home Opportunity
    Victorian Multifamily Home Opportunity

    2927 E Diamond Ave, Spokane, WA 99217

    $369,999
    0.14 AC lot

    Seven-bedroom property with five currently tenant-occupied bedrooms generating $2,300 per month in rental income.

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    Spokane, WA Apartment Buildings Market Trends and Statistics

    Explore 72 apartment buildings for sale in Spokane, WA, showcased through 32 active listings on our real estate platform. These investment opportunities span a total of 185,259 square feet of properties for sale, with an estimated market value of $23,549,900.

    Sale prices for two-family homes in Spokane, WA start at $395,000, averaging $1,121,423, and reaching up to $4,250,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 390K
    Population Growth (5Y) +8.1%
    Median Household Income $73,015
    College Educated 35.9%

    High-Yield Neighborhoods for Investment

    Identify Spokane submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    99223 $535K
    99205 $613K
    99217 $760K
    99203 $775K
    99201 $888.8K

    Taxes & Financing

    Tax Rate (average for all types) 0.86%
    Property Tax per SF $10.24 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Spokane County

    New Delisted

    Total CRE Inventory on Market (SF)

    Property Size Breakdown

    The majority of commercial real estate listings in Spokane fall within the 10,000 to 25,000 square foot range.

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    Most Searched ZIP Codes in Spokane, WA

    • 99207
    • 99204
    • 99201
    • 99205
    • 99202
    • 99208
    • 99217
    • 99203
    • 99218
    • 99223

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