Renovated 5-Unit Apartment
For Sale
$800,000
2109 W Pacific Ave, Spokane, WA 99201
Residential Income, Spokane, WA
Property Size3,892 SF
Lot Size0.19 Acres
Price / SF$205.55
Days on Market180
Property Features for 2109 W Pacific Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RH035
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 8, Bathroom 2, Bathroom 1, Bedroom 7, Bedroom 2
Parking features
Carport
Interior features
High Speed Internet
Basement
Partially Finished, Walk-Out Access
Appliances
Free-Standing Range, Refrigerator, Microwave, Washer, Dryer
Subdivision
Browne's Addition
Lot features
City Bus (w/in 6 blks)
Elementary school
Roosevelt
Middle school
Sacajawea
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
APN
25242.0102
Size
3,892 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
6650
Utilities
Utilities
Cable Available
Heating system
Radiant, Radiant Ceiling, Ceiling
Amenities
on-site laundry
basement storage
Building Details
Year built
1909
Floors in Building
3
Number of units
5
Building materials
Wood Siding
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Windermere Manito, LLC
(509) 747-1051
Listed By:
Jill Klinke · License #SP53646
(509) 994-8273
Added: Apr 11
Changed: Sep 13
Last Checked: Oct 7 at 6:06AM
MLS# 202615287
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 3,892 square feet on a 0.1894-acre lot and was built in 1909 in the Craftsman style. The unit mix includes four 2bd/1ba apartments and one 1bd+office/1ba apartment. Renovations include updated flooring, interior and exterior paint, plumbing fixtures, appliances, remodeled interiors, and a stud-to-finish renovation of Unit D. Each apartment has basement storage, while on-site laundry includes smart-card operation. One covered parking space is provided per unit.
The building uses a conventional gas boiler with hydronic heating and a commercial 76-gallon gas water heater. The garage/carport roof is new, and the main roof is approximately 12 years old. Zoned RH035, the property is located at 2109 W Pacific Ave near restaurants, Coeur d'Alene Park, a grocery store, downtown Spokane, and I-90.
The building uses a conventional gas boiler with hydronic heating and a commercial 76-gallon gas water heater. The garage/carport roof is new, and the main roof is approximately 12 years old. Zoned RH035, the property is located at 2109 W Pacific Ave near restaurants, Coeur d'Alene Park, a grocery store, downtown Spokane, and I-90.
Key Highlights
- 3,892‑square‑foot apartment property on a 0.1894‑acre lot
- Five‑unit mix: four 2bd/1ba apartments plus one 1bd+office/1ba apartment
- One covered parking space per unit, with carport/garage parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,710
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,200
$774.2K
Cap Rate 7%
$553,000
$553.0K
Cap Rate 9%
$430,111
$430.1K
Market Conditions
NOI Build-Up for 3,892 SF
Gross rent
$75.2K $19.32/SF
− Vacancy
−$4.8K −$1.24/SF
EGI
$70.4K $18.08/SF
− OpEx
−$31.7K −$8.14/SF
NOI
$38.7K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$774,200
Cap Rate 7%
$553,000
Cap Rate 9%
$430,111
Alternative Uses
Best Use
Apartment 5plus
$553.0K
$483.9K – $645.2K
NOI $38,710 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.6K – $1.17M
NOI $70,290 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated residential property with modern interiors, in-unit appliances, laundry facilities, basement storage, and covered parking.
Where is this apartment building located?
The property is located at 2109 W Pacific Ave Spokane, WA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 3,892‑square‑foot apartment property on a 0.1894‑acre lot; Five‑unit mix: four 2bd/1ba apartments plus one 1bd+office/1ba apartment; One covered parking space per unit, with carport/garage parking
