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    Triplex with Immediate Vacancy Title is generated by Realmo AI

    11321 E SPRINGFIELD Ave, Spokane Valley, WA 99202

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    New
    For Sale
    $480,000

    MULTI_FAMILY - Ranch - Spokane Valley, WA

    Type:Single Family Residence
    Lot size:
    0.30 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 11321 E SPRINGFIELD Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    7
    Bathrooms
    5
    Rooms
    Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 7, Bathroom 5, Bathroom 1, Bathroom 3, Basement, Bedroom 4
    Parking
    4
    Parking features
    Offsite
    Window features
    Vinyl Frames
    Interior features
    Hot Water, Smart Thermostat
    Basement
    Full, Partially Finished
    Appliances
    Free-Standing Range, Dishwasher, Refrigerator
    Standard status
    Active
    APN
    45163.0111
    Lot size
    0.30 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air

    Building Details

    Year built
    1951
    Floors in Building
    1
    Number of units
    3
    Building materials
    Vinyl Siding
    Roof type
    Composition
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Nicole Page

    Listing agent Nicole Page

    Listing office Keller Williams Spokane - Main 534 E Spokane Falls Blvd Suite 300, Spokane, WA

    Listing date Jun 2, 2026

    MLS# 202618535 Listing URL

    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.

    HighLights

    • Triplex in the Central Valley School District with one unit currently vacant and ready for immediate occupancy
    • Built in 1951 with ranch‑style architecture and composition roof
    • Natural gas forced‑air heating with smart thermostat and hot water
    • Appliances include a free‑standing range, dishwasher, and refrigerator
    • Vinyl siding construction with an offsite parking setup
    • Basement plus multiple bedrooms and bathrooms across the layout

    Overview

    This for-sale triplex offers a rare combination of stability and flexibility for a new owner. One unit is currently vacant and ready for immediate occupancy, while the other units are supported by established tenants in place. The property is positioned as a strong option for house hacking, generating rental income to help offset expenses, or adding an income-producing asset to an investment portfolio.

    Located in Spokane Valley within the Central Valley School District, the property benefits from a convenient setting near shopping, dining, parks, and major commuter routes. The opportunity is described as uncommon, with immediate occupancy possible for the vacant unit.

    From a tenant or buyer perspective, this configuration can appeal to investors seeking current income with the ability to control one unit right away, as well as owner-occupants looking to live in one unit while renting the others. With established tenancy continuing alongside the ready-to-occupy unit, the property can support multiple ownership strategies from day one.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.252111
    Latitude
    47.663573

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    FAQs

    What type of property is this?
    Triplex - Own a triplex in the Central Valley School District with one unit vacant and ready for immediate occupancy.
    Where is this triplex located?
    The property is located at 11321 E SPRINGFIELD Ave Spokane Valley, WA.
    What is the asking price?
    The asking price for this property is $480,000.
    What are key features of this property?
    This property features: Triplex in the Central Valley School District with one unit currently vacant and ready for immediate occupancy; Built in 1951 with ranch‑style architecture and composition roof; Natural gas forced‑air heating with smart thermostat and hot water
    (509) 458-4000
    We can help!
    Listing Contact
    Nicole Page
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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