Low-Maintenance Triplex with
1902 E Everett Ave Spokane, WA 99207
For Sale
$455,000
Well-cared-for triplex with separate utilities, wall A/C, and in-unit washer/dryer hookups.
Property Size2,175 SF
Price / SF$209.20
Days on Market22
Property Features for 1902 E Everett Ave
General Information
- Standard status
- Active
- Size
- 2,175 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1977
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.
This low-maintenance triplex offers a practical, self-contained setup for each tenant. Each unit includes its own wall A/C, individual electric baseboard heat and hot water, and washer/dryer hookups. Interior finishes feature vinyl plank flooring with carpeted bedrooms. Each unit is separately metered, and the property also has a roof that was installed approximately in 2017.
A key convenience is the single-car garage assigned to each unit on the west side of the building. The seller notes there may be potential to convert that space into a fourth unit while still maintaining off-street parking or reconfiguring garage setup.
The property sits on Spokane’s northeast side, with Rochester Heights Park located directly across the street.
A key convenience is the single-car garage assigned to each unit on the west side of the building. The seller notes there may be potential to convert that space into a fourth unit while still maintaining off-street parking or reconfiguring garage setup.
The property sits on Spokane’s northeast side, with Rochester Heights Park located directly across the street.
Key Highlights
- Ranch‑style triplex built in 1977 with 3 attached garage spaces
- Each unit has its own single‑car garage plus off‑street parking potential
- Separate utilities: each unit has individually metered electric baseboard heat and hot water
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 | $37.8k | $17.40 |
| − Vacancy | −$2.3k | −$1.06 |
| EGI | $35.5k | $16.34 |
| − OpEx | −$10.7k | −$4.90 |
| NOI | $24.9k | $11.44 |
2,175 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.5K
NOI $21,632 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$561.2K
$491.0K – $654.7K
NOI $39,281 @ 7.0% cap · market cap 8.63%
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-cared-for triplex with separate utilities, wall A/C, and in-unit washer/dryer hookups.
Where is this triplex located?
The property is located at 1902 E Everett 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: Ranch‑style triplex built in 1977 with 3 attached garage spaces; Each unit has its own single‑car garage plus off‑street parking potential; Separate utilities: each unit has individually metered electric baseboard heat and hot water
