Updated Triplex with Private
For Sale
$519,000
1316 W Dean Ave, Spokane, WA 99201
Legal three-unit property with separate kitchens, utility metering, outdoor areas, and off-street parking for each residence.
Property Size3,557 SF
Price / SF$145.91
Days on Market20
Property Features for 1316 W Dean Ave
General Information
Standard status
Active
Size
3,557 SF
Total Parking Spaces
6
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,303
Amenities
shared laundry
basement storage
fenced yard
private outdoor space
mini-split heat/AC
Building Details
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
EXIT Real Estate Professionals
(509) 535-8400
Listed By:
Jeci Adams
(406) 370-6303
Source:
Exprealty
Added: Sep 8
Changed: Sep 16
Last Checked: Sep 26 at 1:11PM
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 EXIT Real Estate Professionals
Investment Insights
Based on property information with market context.
This 3,557-square-foot triplex contains three 2-bedroom, 1-bath units arranged one per floor. Each residence has its own kitchen, electrical sub-panel, and gas meter. Improvements include new plumbing throughout, updated bath fixtures in units 1 and 3, clawfoot fixtures in unit 2, and new windows. The upper unit has mini-split heating and cooling, while gas forced air and central air serve the property. Original fir floors, bay windows, and French doors remain in the interiors.
The property is three blocks from Kendall Yards and includes six off-street parking spaces accessed from the alley. A newly fenced yard is divided to provide private outdoor space for each unit. Basement amenities include shared laundry, private storage, and a new washer hookup in unit 3 for a combination washer-dryer. The sewer main was cleared in July 2026. Two units are leased, and the top-floor unit is currently available.
The property is three blocks from Kendall Yards and includes six off-street parking spaces accessed from the alley. A newly fenced yard is divided to provide private outdoor space for each unit. Basement amenities include shared laundry, private storage, and a new washer hookup in unit 3 for a combination washer-dryer. The sewer main was cleared in July 2026. Two units are leased, and the top-floor unit is currently available.
Key Highlights
- 3,557‑square‑foot legal triplex recognized by the county as a 3‑unit property
- Three 2bd/1ba units, with one residence on each floor
- New plumbing throughout, plus updated bath fixtures and windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,690
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$813,800
$813.8K
Cap Rate 7%
$581,286
$581.3K
Cap Rate 9%
$452,111
$452.1K
Market Conditions
NOI Build-Up for 3,557 SF
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.
Gross rent
$61.9K $17.40/SF
− Vacancy
−$3.8K −$1.06/SF
EGI
$58.1K $16.34/SF
− OpEx
−$17.4K −$4.90/SF
NOI
$40.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$813,800
Cap Rate 7%
$581,286
Cap Rate 9%
$452,111
Alternative Uses
Best Use
Multifamily LT 5
$581.3K
$508.6K – $678.2K
NOI $40,690 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$505.4K
$442.2K – $589.6K
NOI $35,378 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$917.7K
$803.0K – $1.07M
NOI $64,239 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
Explore this area
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Legal three-unit property with separate kitchens, utility metering, outdoor areas, and off-street parking for each residence.
Where is this triplex located?
The property is located at 1316 W Dean Ave Spokane, WA.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: 3,557‑square‑foot legal triplex recognized by the county as a 3‑unit property; Three 2bd/1ba units, with one residence on each floor; New plumbing throughout, plus updated bath fixtures and windows
