Updated South Hill
1017 East 29th Avenue Spokane, WA 99203
For Sale
$450,000
Updated duplex on Spokane's South Hill, ideal for investors.
Property Size2,256 SF
Price / SF$199.47
Days on Market134
Property Features for 1017 East 29th Avenue
General Information
Standard status
Active
Size
2,256 SF
Property subtype
MultiFamily / Multi Family
Building Details
Year Built
1924
Listing Agency:
Coldwell Banker Schneidmiller
(208) 669-2231
Listed By:
Patrick Libey · License #SP41950
(208) 669-2231
Source:
Compass
Added: Mar 18
Changed: Jul 10
Last Checked: Jul 10 at 12:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Schneidmiller
Investment Insights
Based on property information with market context.
This South Hill duplex presents an opportunity for investors or owner-occupants. The property features two units with separate entrances, offering flexibility for rental income or owner-occupancy with rental income potential. Recent renovations include new flooring, fresh paint, and updated fixtures. The property also offers easily separated parking. Located on Spokane's South Hill, the duplex is situated minutes from shopping, dining, parks, and everyday amenities. The property size is 2256 square feet.
Key Highlights
- Updated South Hill duplex suitable for investors or owner‑occupants.
- Two units with separate entrances offer rental income potential or mortgage offset.
- Recent renovations include new flooring, fresh paint, and updated fixtures.
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 | $39.3k | $17.40 |
| − Vacancy | −$2.4k | −$1.06 |
| EGI | $36.9k | $16.34 |
| − OpEx | −$11.1k | −$4.90 |
| NOI | $25.8k | $11.44 |
2,256 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$368.7K
$322.6K – $430.1K
NOI $25,807 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$320.5K
$280.5K – $374.0K
NOI $22,438 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$582.0K
$509.3K – $679.1K
NOI $40,743 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex on Spokane's South Hill, ideal for investors.
Where is this duplex located?
The property is located at 1017 East 29th Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Updated South Hill duplex suitable for investors or owner‑occupants.; Two units with separate entrances offer rental income potential or mortgage offset.; Recent renovations include **new flooring, fresh paint, and updated fixtures.**
