Triplex with Detached Third
2115 W Dean Ave Spokane, WA 99201
For Sale
$320,000
Triplex offering two finished units plus an unfinished 1984 structure that could be completed for additional rental space.
Property Size2,311 SF
Price / SF$138.47
Days on Market53
Property Features for 2115 W Dean Ave
General Information
- Standard status
- Active
- Size
- 2,311 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1898
Listing Agency:
eXp Realty, LLC
Listed By:
Rachel Moore
Source:
Clearwaterproperties
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 23 at 6:28AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This Spokane triplex includes a front/main building with two separate units: one 2-bedroom/1-bath unit and one 1-bedroom/1-bath unit. In addition, there is a detached third structure off the alley that was built in 1984. The detached structure is unfinished inside, but once completed it is expected to provide an additional 2-bedroom/1-bath unit. The property also benefits from new roofs on both buildings, and the older main home has been updated (year not specified).
The property is located in West Central near I-90, with access to downtown, Gonzaga, SFCC, WSU Spokane, and the Spokane River, and it is only a short drive to Spokane International Airport. The detached structure’s alley access supports flexible layout planning for future completion.
For buyers looking for an income property with room to improve, the combination of two existing residential units and a detached, unfinished third structure provides a straightforward path to expand living space within the same triplex configuration. Buyer to verify all details related to completion scope and achievable rents.
The property is located in West Central near I-90, with access to downtown, Gonzaga, SFCC, WSU Spokane, and the Spokane River, and it is only a short drive to Spokane International Airport. The detached structure’s alley access supports flexible layout planning for future completion.
For buyers looking for an income property with room to improve, the combination of two existing residential units and a detached, unfinished third structure provides a straightforward path to expand living space within the same triplex configuration. Buyer to verify all details related to completion scope and achievable rents.
Key Highlights
- Spokane triplex with two finished units in the main front home: one 2 bed/1 bath and one 1 bed/1 bath
- Detached third structure built in 1984 off the alley is unfinished inside and could be completed for an additional 2 bed/1 bath unit
- Pro forma gross rents projected at approximately $3,400/month when fully finished and leased (buyer to verify)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.2k | $17.40 |
| − Vacancy | −$2.4k | −$1.06 |
| EGI | $37.8k | $16.34 |
| − OpEx | −$11.3k | −$4.90 |
| NOI | $26.4k | $11.44 |
2,311 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$328.4K
$287.3K – $383.1K
NOI $22,985 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$596.2K
$521.7K – $695.6K
NOI $41,737 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex offering two finished units plus an unfinished 1984 structure that could be completed for additional rental space.
Where is this triplex located?
The property is located at 2115 W Dean Ave Spokane, WA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Spokane triplex with two finished units in the main front home: one 2 bed/1 bath and one 1 bed/1 bath; Detached third structure built in 1984 off the alley is unfinished inside and could be completed for an additional 2 bed/1 bath unit; Pro forma gross rents projected at approximately $3,400/month when fully finished and leased (buyer to verify)
