Renovated 8-Unit Apartment
1119 W Augusta Ave, Spokane, WA 99205
For Sale
$830,500
Residential Income, Spokane, WA
Property Size4,309 SF
Lot Size0.14 Acres
Price / SF$192.74
Days on Market96
Property Features for 1119 W Augusta Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Interior features
Basement
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Heating system
Cooling system
Amenities
shared laundry facility
off-street parking
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
EXIT Real Estate Professionals · EXIT Realty
Listed By:
Jessica Morales
(509) 535-8400
Added: Aug 4
Changed: Oct 24
Last Checked: Nov 7 at 11:06AM
MLS# 202622104
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.
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Investment Insights
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This 8-unit apartment property combines a 1905 Colonial design with comprehensive renovations and 4,309 square feet of building area. Exterior materials include stone veneer and wood siding, while the composition roof, ductless and electric heating, and window-unit cooling serve the building. Units include gas ranges and refrigerators, with cable available and high-speed internet listed among the interior features.
The 0.1377-acre property has alley access and off-street parking. A shared laundry facility supports resident convenience, and separately metered units provide distinct utility management. The property is located at 1119 W Augusta Ave in Spokane, near downtown and Kendall Yards. The offering is reported at a 9.66% cap rate.
The 0.1377-acre property has alley access and off-street parking. A shared laundry facility supports resident convenience, and separately metered units provide distinct utility management. The property is located at 1119 W Augusta Ave in Spokane, near downtown and Kendall Yards. The offering is reported at a 9.66% cap rate.
Key Highlights
- 8‑unit apartment building with 4,309 square feet of building area
- Fully renovated property originally built in 1905
- 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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,577
Businesses Nearby
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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
$286,300
Median Home Value
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Market
Average Price Trend$/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 - Colonial multifamily property with shared laundry, separately metered units, alley access, and off-street parking.
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 of building area; Fully renovated property originally built in 1905; 9.66% cap rate
