Renovated 8-Unit Apartment
1119 W Augusta Ave, Spokane, WA 99205
For Sale
$830,500
Historic Spokane multifamily property with updated residences, shared laundry, alley access, and separately metered utilities.
Property Size4,309 SF
Price / SF$192.74
Days on Market57
Property Features for 1119 W Augusta Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Amenities
shared laundry facility
Building Details
Year Built
Buildings
Listing Agency:
EXIT Real Estate Professionals
Listed By:
Jessica Morales
(509) 535-8400
Source:
Clemensregroup
Added: Sep 12
Changed: Oct 26
Last Checked: Oct 7 at 5:40PM
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 EXIT Real Estate Professionals
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1905, this 8-unit apartment building contains 4,309 square feet and has undergone renovation throughout the residences. The property includes a shared laundry facility, alley access, and off-street parking. Separately metered units support individual utility management.
The building is located at 1119 W Augusta Ave in Spokane, with proximity to downtown and Kendall Yards. The property is reported at a 9.66% cap rate and combines an established historic structure with updated apartment interiors and practical operating features.
The building is located at 1119 W Augusta Ave in Spokane, with proximity to downtown and Kendall Yards. The property is reported at a 9.66% cap rate and combines an established historic structure with updated apartment interiors and practical operating features.
Key Highlights
- 8‑unit apartment building with 4,309 square feet
- Renovated apartment interiors
- 9.66% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,857
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,140
$857.1K
Cap Rate 7%
$612,243
$612.2K
Cap Rate 9%
$476,189
$476.2K
Market Conditions
NOI Build-Up for 4,309 SF
Gross rent
$83.2K $19.32/SF
− Vacancy
−$5.3K −$1.24/SF
EGI
$77.9K $18.08/SF
− OpEx
−$35.1K −$8.14/SF
NOI
$42.9K $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%
$857,140
Cap Rate 7%
$612,243
Cap Rate 9%
$476,189
Alternative Uses
Best Use
Apartment 5plus
$612.2K
$535.7K – $714.3K
NOI $42,857 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$972.8K – $1.30M
NOI $77,821 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Spokane, WA
Properties on Market for Apartment buildings in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Historic Spokane multifamily property with updated residences, shared laundry, alley access, and separately metered utilities.
Where is this apartment building located?
The property is located at 1119 W Augusta Ave Spokane, WA.
What is the asking price?
The asking price for this property is $830,500.
What are key features of this property?
This property features: 8‑unit apartment building with 4,309 square feet; Renovated apartment interiors; 9.66% cap rate
