Historic Three-Unit
1216 N Cochran St, Spokane, WA 99201
For Sale
$450,000
Early 20th-century residential property configured for three units in Spokane.
Property Size2,054 SF
Price / SF$219.08
Days on Market96
Property Features for 1216 N Cochran St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Widmyer Corporation
Listed By:
Tony Mukhamediyev · License ID SP44681
(415) 310-4120
Source:
Widmyercorp
Added: Aug 11
Changed: Nov 12
Last Checked: Nov 12 at 5:47AM
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 Widmyer Corporation
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Investment Insights
Based on property information with market context.
This Spokane triplex contains 2,054 square feet and is configured as three residential units. Constructed in 1909, the building offers an older architectural profile and a compact multifamily layout suited to residential income use.
The property is located at 1216 N Cochran St in Spokane, WA 99201. Parcel Class 12 is identified in the property information.
The property is located at 1216 N Cochran St in Spokane, WA 99201. Parcel Class 12 is identified in the property information.
Key Highlights
- 2,054 SF multifamily building
- Three residential units
- Built in 1909
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,497
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,940
$469.9K
Cap Rate 7%
$335,671
$335.7K
Cap Rate 9%
$261,078
$261.1K
Market Conditions
NOI Build-Up for 2,054 SF
Gross rent
$35.7K $17.40/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$33.6K $16.34/SF
− OpEx
−$10.1K −$4.90/SF
NOI
$23.5K $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%
$469,940
Cap Rate 7%
$335,671
Cap Rate 9%
$261,078
Alternative Uses
Best Use
Multifamily LT 5
$335.7K
$293.7K – $391.6K
NOI $23,497 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$291.8K
$255.4K – $340.5K
NOI $20,429 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$529.9K
$463.7K – $618.3K
NOI $37,095 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
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Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Spokane, WA
Properties on Market for Triplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Early 20th-century residential property configured for three units in Spokane.
Where is this triplex located?
The property is located at 1216 N Cochran St Spokane, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,054 SF multifamily building; Three residential units; Built in 1909
