South Hill Duplex Investment
2716 E 37TH Ave, Spokane, WA 99223
- Added:
- Mar 27, 2026
- Days on Market:
- 67
- Last Refresh:
- Jun 1 at 3:06 pm
Property Features for 2716 E 37TH Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- UGA
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 4
- Parking
- 4
- Parking features
- Offsite, Driveway, Underground/Basement
- Window features
- Vinyl Frames
- Patio and Porch features
- Patio, Deck
- Appliances
- Range, Dishwasher, Refrigerator, Washer, Dryer
- Standard status
- Pending
- APN
- 35334.3402
- Size
- 2,776 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6396
Utilities
- Heating system
- Electric (Heating), Baseboard
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1976
- Number of units
- 2
- Building materials
- Brick Veneer, Vinyl Siding
- Roof type
- Composition
- Architectural style
- Contemporary
Listing agent Scott Brewer (509) 458-4000
Listing office Keller Williams Spokane - Main 534 E Spokane Falls Blvd Suite 300, Spokane, WA (509) 458-4000
Listing date Mar 27, 2026
MLS# 202614278
Listing URL
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.
HighLights
- Leased through March 2027, providing immediate and consistent rental income.
- Located in a desirable South Hill rental location.
- Newer roof, electrical upgrades, and updated deck ensure low‑maintenance ownership.
- Garage plus paved off‑street parking for up to six vehicles.
- Includes appliances: Range, Dishwasher, Refrigerator, Washer, and Dryer.
- Conveniently located near shopping, dining, parks, schools, and major commuter routes.
Overview
This well-maintained duplex is located in the South Hill neighborhood of Spokane, WA. The property offers income-producing potential in a desirable rental location. Both units are currently leased, with rents secured through March 2027, providing consistent income. The property has a newer roof, electrical upgrades, and an updated deck. A garage and paved off-street parking for up to six vehicles are available. The property is located near shopping, dining, parks, schools, and major commuter routes. This property is an opportunity for an investor seeking a stable addition to a portfolio with minimal near-term capital needs. The lot size is 0.2217 acres and the property size is 2776 square feet. The zoning is UGA.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.3k | $17.40 |
| − Vacancy | −$2.9k | −$1.06 |
| EGI | $45.4k | $16.34 |
| − OpEx | −$13.6k | −$4.90 |
| NOI | $31.8k | $11.44 |
2,776 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$453.7K
$397.0K – $529.3K
NOI $31,756 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$394.4K
$345.1K – $460.2K
NOI $27,610 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$716.2K
$626.7K – $835.6K
NOI $50,135 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.370376
- Latitude
- 47.620759
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex in desirable location with long-term leases.
Where is this duplex located?
The property is located at 2716 E 37TH Ave Spokane, WA.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Leased through March 2027, providing immediate and consistent rental income.; Located in a desirable South Hill rental location.; Newer roof, electrical upgrades, and updated deck ensure low‑maintenance ownership.
