Updated Quadplex with Extra
For Sale
$669,000
1023 W 6th Ave, Spokane, WA 99204
Four separately metered units include refreshed kitchens and bathrooms, plus finished area that may support a fifth unit.
Property Size3,016 SF
Price / SF$221.82
Days on Market83
Property Features for 1023 W 6th Ave
General Information
Standard status
Active
Size
3,016 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Windermere Manito, LLC
Listed By:
Dan McLaughlin · License #93712
(509) 434-9219
Source:
Clemensregroup
Added: Jul 24
Changed: Oct 3
Last Checked: Oct 7 at 5:31PM
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 Windermere Manito, LLC
Investment Insights
Based on property information with market context.
This 3,016-square-foot quadplex, built in 1900, contains four units with updated kitchens and bathrooms. Each unit has separate metering, and the electrical service has been updated. Finished space within the main home may be converted into a fifth unit, subject to applicable requirements.
The property occupies nearly half an acre at 1023 W 6th Ave in Spokane, Washington. The western portion of the grounds may offer potential for parceling and future development, while the existing property provides four residential units and additional finished space.
The property occupies nearly half an acre at 1023 W 6th Ave in Spokane, Washington. The western portion of the grounds may offer potential for parceling and future development, while the existing property provides four residential units and additional finished space.
Key Highlights
- Four‑unit quadplex with 3,016 square feet of property size
- Nearly half an acre at 1023 W 6th Ave, Spokane, WA 99204
- Separate metering for all units with updated service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,501
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,020
$690.0K
Cap Rate 7%
$492,871
$492.9K
Cap Rate 9%
$383,344
$383.3K
Market Conditions
NOI Build-Up for 3,016 SF
Gross rent
$52.5K $17.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$49.3K $16.34/SF
− OpEx
−$14.8K −$4.90/SF
NOI
$34.5K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,020
Cap Rate 7%
$492,871
Cap Rate 9%
$383,344
Alternative Uses
Best Use
Multifamily LT 5
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$428.5K
$375.0K – $500.0K
NOI $29,997 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$778.1K
$680.9K – $907.8K
NOI $54,469 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,737
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four separately metered units include refreshed kitchens and bathrooms, plus finished area that may support a fifth unit.
Where is this quadplex located?
The property is located at 1023 W 6th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,016 square feet of property size; Nearly half an acre at 1023 W 6th Ave, Spokane, WA 99204; Separate metering for all units with updated service
