Two-Story Four-Unit
New
For Sale
$529,900
13208 E Skyview Ave, Spokane Valley, WA 99216
Residential Income, Spokane Valley, WA
Property Size2,858 SF
Lot Size0.30 Acres
Price / SF$185.41
Days on Market1
Property Features for 13208 E Skyview Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 8, Bathroom 4, Bedroom 7, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 6
Parking
8
Parking features
Offsite, Carport
Patio and Porch features
Deck, Patio
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Lot features
Sprinkler - Automatic, Level, Corner Lot, City Bus (w/in 6 blks)
View
Water
Elementary school
South Pines
Middle school
Bowdish
High school
University
Elementary school district
Central Valley
Directions
From i-90, take exit 289 for WA-27/Pines Rd, head south on Pines Rd, turn right onto E 28th Ave, turn left on S Guthrie Rd, listing will be on left after road turns into E Skyview Ave
Standard status
Active
APN
45274.2601
Size
2,858 SF
Lot size
0.30 Acres
Utilities
Heating system
Baseboard
Cooling system
Wall Unit(s)
Amenities
private deck or patio
shared laundry
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Building materials
Wood Siding
Roof type
Flat
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Hailey Austin
(360) 339-5093
Added: Sep 2
Last Checked: Sep 2 at 4:06PM
MLS# 202623606
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story quadplex contains four residential units, each configured with two bedrooms and one bathroom. The units provide individual decks or patios, while shared laundry serves the property. The building was constructed in 1983 and measures 2,858 square feet on a 0.3-acre lot. Wood siding, a flat roof, baseboard heating, and wall-unit cooling are among the existing building features. Appliances include free-standing ranges, dishwashers, and refrigerators.
Located at 13208 E Skyview Ave in Spokane Valley, the property is near bus routes, grocery stores, restaurants, and schools. The site includes carport parking as identified in the property features, along with the outdoor areas associated with the units.
Located at 13208 E Skyview Ave in Spokane Valley, the property is near bus routes, grocery stores, restaurants, and schools. The site includes carport parking as identified in the property features, along with the outdoor areas associated with the units.
Key Highlights
- Four 2‑bedroom, 1‑bath units in a two‑story quadplex
- 2,858 square feet on a 0.3‑acre lot
- Built in 1983 with wood siding and a flat roof
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
$24,779
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
4.68%
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%
$495,580
$495.6K
Cap Rate 7%
$353,986
$354.0K
Cap Rate 9%
$275,322
$275.3K
Market Conditions
NOI Build-Up for 2,858 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
$37.7K $13.20/SF
− Vacancy
−$2.3K −$0.81/SF
EGI
$35.4K $12.39/SF
− OpEx
−$10.6K −$3.72/SF
NOI
$24.8K $8.67/SF
Area
Spokane Valley, WA
Vacancy
6.17%
Lease Rate
$13.20 /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%
$495,580
Cap Rate 7%
$353,986
Cap Rate 9%
$275,322
Alternative Uses
Best Use
Multifamily LT 5
$354.0K
$309.7K – $413.0K
NOI $24,779 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$327.5K
$286.6K – $382.1K
NOI $22,928 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$620.9K
$543.3K – $724.3K
NOI $43,460 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 99216, WA
28,379
Population
12,703
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,999
Density / Sq Mi
$69,958
Median Household Income
$40,652
Median Earnings
$1,307
Median Rent
$336,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences offer private outdoor space, shared laundry, and on-site residential amenities.
Where is this quadplex located?
The property is located at 13208 E Skyview Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units in a two‑story quadplex; 2,858 square feet on a 0.3‑acre lot; Built in 1983 with wood siding and a flat roof
