Four-Unit Duplex
For Sale
$1,250,000
1225 E 29th Ave, Spokane, WA 99203
Two separate parcels hold four three-bedroom residences with recent exterior improvements and three occupied units.
Property Size4,560 SF
Price / SF$274.12
Days on Market88
Property Features for 1225 E 29th Ave
General Information
Standard status
Active
Size
4,560 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Amenities
garages
private decks
Building Details
Year Built
1977
Buildings
2
Listing Agency:
Windermere Valley
Listed By:
Trevor Windhorst
(509) 216-2090
Source:
Clemensregroup
Added: Jul 20
Changed: Oct 14
Last Checked: Oct 12 at 11:13PM
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 Valley
Investment Insights
Based on property information with market context.
This multifamily property comprises two duplex buildings on separate parcels, totaling four residences and 4,560 square feet. Each unit is configured with three bedrooms and two bathrooms. The buildings were constructed in 1977, and recent work includes replacement roofs on both residential structures and their garages, along with upgraded walkways, stairwells, and four private decks.
Three units are occupied by long-term tenants, while current rents are below market. The property also includes an assumable loan carrying a 5.5% interest rate fixed for 5 years, with no assumption fee. Located at 1225 E 29th Ave in Spokane, Washington, the asset combines a four-unit configuration with separate-parcel ownership and recent exterior improvements.
Three units are occupied by long-term tenants, while current rents are below market. The property also includes an assumable loan carrying a 5.5% interest rate fixed for 5 years, with no assumption fee. Located at 1225 E 29th Ave in Spokane, Washington, the asset combines a four-unit configuration with separate-parcel ownership and recent exterior improvements.
Key Highlights
- Four‑unit multifamily property consisting of two duplex buildings on separate parcels
- 4,560 square feet across four three‑bedroom, two‑bath units
- Three units occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,164
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,043,280
$1.0M
Cap Rate 7%
$745,200
$745.2K
Cap Rate 9%
$579,600
$579.6K
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$79.3K $17.40/SF
− Vacancy
−$4.8K −$1.06/SF
EGI
$74.5K $16.34/SF
− OpEx
−$22.4K −$4.90/SF
NOI
$52.2K $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%
$1,043,280
Cap Rate 7%
$745,200
Cap Rate 9%
$579,600
Alternative Uses
Best Use
Multifamily LT 5
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$647.9K
$566.9K – $755.9K
NOI $45,353 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,354 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 99203, WA
21,072
Population
9,742
Households
2.2
Avg Household Size
43
Median Age
57%
College-Educated
99%
High-School Grad
4.6 sq mi
ZIP Area
4,581
Density / Sq Mi
$95,532
Median Household Income
$56,122
Median Earnings
$1,243
Median Rent
$449,100
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate parcels hold four three-bedroom residences with recent exterior improvements and three occupied units.
Where is this duplex located?
The property is located at 1225 E 29th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four‑unit multifamily property consisting of two duplex buildings on separate parcels; 4,560 square feet across four three‑bedroom, two‑bath units; Three units occupied by long‑term tenants
