Gonzaga Area Rental
1011 E Augusta Ave, Spokane, WA 99207
MULTI_FAMILY - Craftsman - Spokane, WA
Property size:
1,860 SFLot size:
0.16 AcresPrice / SF:
$161/SF- Added:
- May 6, 2026
- Days on Market:
- 22
- Last Refresh:
- May 27 at 7:06 pm
Property Features for 1011 E Augusta Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 1
- Rooms
- Bedroom 2, Utility Room, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1, Laundry Room
- Parking
- 4
- Parking features
- Alley
- Interior features
- High Speed Internet
- Basement
- Unfinished, Partial
- Appliances
- Free-Standing Range, Refrigerator
- Standard status
- Active
- APN
- 35084.3313
- Size
- 1,860 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2685
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1904
- Floors in Building
- 2
- Number of units
- 1
- Building materials
- Wood Siding
- Roof type
- Composition
- Architectural style
- Craftsman
Listing agent Bryan Swanson License #102133 (509) 458-4000
Listing office Keller Williams Spokane - Main 534 E Spokane Falls Blvd Suite 300, Spokane, WA (509) 458-4000
Listing date May 6, 2026
MLS# 202616856
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 5/15/26 with tenants paying all utilities, providing immediate and consistent income.
- Proven rental history of 20 years with zero vacancy, indicating high demand.
- Prime location near Gonzaga University, Safeway, and McDonald's.
- Four bedrooms (3 on the main floor) and a secondary living room offer ample space.
- Large enclosed front porch provides additional finished space.
- New exterior paint and an inground sprinkler system enhance curb appeal.
Overview
This Gonzaga-area rental property is located a few blocks from Gonzaga University and near Safeway and McDonald's. The property features 4 bedrooms and 1 bathroom. There are 3 main floor bedrooms with tall ceilings, and a large 4th bedroom and secondary living room upstairs with room for a 2nd bathroom. Just inside the front door is a large enclosed porch that provides additional finished space, suitable for storing bikes and gear. A butler's pantry leads into the kitchen, which has tile floors. The property includes a fenced yard and an inground sprinkler system. The exterior has new paint. The property has been rented to Gonzaga University students for the past 20 years with no vacancy. It is currently leased through May 15, 2026. Tenants are responsible for all utilities, including water, sewer, and garbage. The lot size is 0.163 acres and the property size is 1860 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$205.5K
NOI $18,499 @ 9.00% cap · cautious / downside scenario
Moderate
$264.3K
NOI $18,499 @ 7.00% cap · market / base-case scenario
Aggressive
$370.0K
NOI $18,499 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.9k | $19.32 |
| − Vacancy | −$2.3k | −$1.24 |
| EGI | $33.6k | $18.08 |
| − OpEx | −$15.1k | −$8.14 |
| NOI | $18.5k | $9.95 |
1,860 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$264.3K
$231.2K – $308.3K
NOI $18,499 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.393659
- Latitude
- 47.672963
Nearby Similar for Sale
FAQs
What type of property is this?
Single family property - Rental property near Gonzaga University with long-term tenants.
Where is this single family property located?
The property is located at 1011 E Augusta Ave Spokane, WA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Leased through 5/15/26 with tenants paying all utilities, providing immediate and consistent income.; Proven rental history of 20 years with zero vacancy, indicating high demand.; Prime location near Gonzaga University, Safeway, and McDonald's.
