Brick Triplex With Off-Street
2004 E Rowan Ave Spokane, WA 99207
For Sale
$455,000
Well-maintained brick triplex with three 2BR/1BA units, wall A/C, dishwashers, and uncovered off-street parking.
Property Size2,211 SF
Price / SF$205.79
Days on Market22
Property Features for 2004 E Rowan Ave
General Information
- Standard status
- Active
- Size
- 2,211 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1973
Listing Agency:
SDS Realty, Inc.
Listed By:
Jay Overholser · License #43093
Source:
Clearwaterproperties
Added: Jul 4
Changed: Jul 23
Last Checked: Jul 24 at 8:53AM
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 SDS Realty, Inc.
Investment Insights
Based on property information with market context.
Well maintained brick triplex with three separate 2-bedroom, 1-bath units. Each unit includes the usual appliances, wall A/C, and a dishwasher. Uncovered, off-street parking is provided for tenants.
A common, free laundry is located in the partial basement. All units are currently occupied. Roof work includes a new roof installed in 2026 on the E, N, and W sides, with the south side described as good.
The property is located at 2004 E Rowan Ave in Spokane, WA 99207, and is described as offering strong visibility and access along E Rowan Avenue. Please note that seller financing is not available.
A common, free laundry is located in the partial basement. All units are currently occupied. Roof work includes a new roof installed in 2026 on the E, N, and W sides, with the south side described as good.
The property is located at 2004 E Rowan Ave in Spokane, WA 99207, and is described as offering strong visibility and access along E Rowan Avenue. Please note that seller financing is not available.
Key Highlights
- Brick triplex built in 1973 with three 2BR/1BA units
- Each unit includes wall A/C and a dishwasher, plus typical appliances
- Uncovered off‑street parking with alley access (off‑site garage listed; 0 garage spaces)
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 | $38.5k | $17.40 |
| − Vacancy | −$2.3k | −$1.06 |
| EGI | $36.1k | $16.34 |
| − OpEx | −$10.8k | −$4.90 |
| NOI | $25.3k | $11.44 |
2,211 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$361.3K
$316.2K – $421.6K
NOI $25,293 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$314.1K
$274.9K – $366.5K
NOI $21,990 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$570.4K
$499.1K – $665.5K
NOI $39,931 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Well-maintained brick triplex with three 2BR/1BA units, wall A/C, dishwashers, and uncovered off-street parking.
Where is this triplex located?
The property is located at 2004 E Rowan Ave Spokane, WA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Brick triplex built in 1973 with three 2BR/1BA units; Each unit includes wall A/C and a dishwasher, plus typical appliances; Uncovered off‑street parking with alley access (off‑site garage listed; 0 garage spaces)
