4-Unit
For Sale
$349,000
1130 W Nora Ave, Spokane, WA 99205
Two apartments are leased, while two renovated units are vacant and available for occupancy.
Property Size2,733 SF
Price / SF$127.70
Days on Market18
Property Features for 1130 W Nora Ave
General Information
Standard status
Active
Size
2,733 SF
Total Parking Spaces
2453
Property subtype
Residential Income
Occupancy
50%
Site & Location
Neighborhood
Emerson/Garfield
Units
Unit Mix
1 x 2BR, 1 x 1BR, 2 x studio
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,192
Amenities
High Speed Internet
Building Details
Building Size
2,733 SF
Year Built
1903
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Windermere North
(509) 467-6640
Listed By:
Tracy Penna
(509) 953-6561
Source:
Ericksrealty
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 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 North
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.
This 2,733-square-foot quadplex, built in 1903, contains one two-bedroom apartment, one one-bedroom apartment, and two studios. Two units have recently been renovated and are vacant; the other two are occupied by tenants with leases. Unit finishes vary, and the property is described as well-maintained and in good condition.
Improvements include vinyl windows, new electrical service with separate meters for each unit, a newer electric water heater, and newer wall heaters. The property is near the Monroe District.
Improvements include vinyl windows, new electrical service with separate meters for each unit, a newer electric water heater, and newer wall heaters. The property is near the Monroe District.
Key Highlights
- Four units: one two‑bedroom, one one‑bedroom, and two studios
- 2,733 square feet; built in 1903
- Two renovated units are vacant; two units have tenants on leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,264
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,280
$625.3K
Cap Rate 7%
$446,629
$446.6K
Cap Rate 9%
$347,378
$347.4K
Market Conditions
NOI Build-Up for 2,733 SF
Gross rent
$47.6K $17.40/SF
− Vacancy
−$2.9K −$1.06/SF
EGI
$44.7K $16.34/SF
− OpEx
−$13.4K −$4.90/SF
NOI
$31.3K $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%
$625,280
Cap Rate 7%
$446,629
Cap Rate 9%
$347,378
Alternative Uses
Best Use
Multifamily LT 5
$446.6K
$390.8K – $521.1K
NOI $31,264 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$388.3K
$339.8K – $453.0K
NOI $27,182 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$705.1K
$617.0K – $822.6K
NOI $49,358 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,115
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two apartments are leased, while two renovated units are vacant and available for occupancy.
Where is this quadplex located?
The property is located at 1130 W Nora Ave Spokane, WA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Four units: one two‑bedroom, one one‑bedroom, and two studios; 2,733 square feet; built in 1903; Two renovated units are vacant; two units have tenants on leases
