Triplex with Updated
For Sale
$399,000
613 W Knox Ave, Spokane, WA 99205
Fully occupied three-unit residential property with updated leases and access to downtown Spokane amenities.
Property Size2,444 SF
Price / SF$163.26
Days on Market79
Property Features for 613 W Knox Ave
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$42,480
Multifamily Units
3
Building Details
Year Built
1905
Listing Agency:
REAL Broker LLC
Listed By:
Haydn Halsted · License #139160
(509) 570-2482
Source:
Clemensregroup
Added: Jul 21
Changed: Sep 23
Last Checked: Oct 5 at 11:31PM
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 REAL Broker LLC
Investment Insights
Based on property information with market context.
This triplex contains 2,444 square feet arranged as three residential units with a combined total of 4 bedrooms and 3 bathrooms. The property was built in 1905 and is fully occupied, with updated leases supporting continued residential use across the building.
Located at 613 W Knox Ave in Spokane, the property is near the North Bank district and downtown Spokane. Residents have access to nearby employment centers, shopping, dining, and entertainment while remaining in a neighborhood setting. The three-unit configuration and current occupancy provide a straightforward income-property profile for an owner seeking a residential asset with established tenancy.
Located at 613 W Knox Ave in Spokane, the property is near the North Bank district and downtown Spokane. Residents have access to nearby employment centers, shopping, dining, and entertainment while remaining in a neighborhood setting. The three-unit configuration and current occupancy provide a straightforward income-property profile for an owner seeking a residential asset with established tenancy.
Key Highlights
- 2,444‑square‑foot triplex with three residential units
- 4 bedrooms and 3 bathrooms across the property
- Fully occupied with updated leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,958
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,160
$559.2K
Cap Rate 7%
$399,400
$399.4K
Cap Rate 9%
$310,644
$310.6K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$42.5K $17.40/SF
− Vacancy
−$2.6K −$1.06/SF
EGI
$39.9K $16.34/SF
− OpEx
−$12.0K −$4.90/SF
NOI
$28.0K $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 Rate 5%
$559,160
Cap Rate 7%
$399,400
Cap Rate 9%
$310,644
Alternative Uses
Best Use
Multifamily LT 5
$399.4K
$349.5K – $466.0K
NOI $27,958 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.1K
NOI $24,308 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$630.6K
$551.7K – $735.7K
NOI $44,139 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit residential property with updated leases and access to downtown Spokane amenities.
Where is this triplex located?
The property is located at 613 W Knox Ave Spokane, WA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,444‑square‑foot triplex with three residential units; 4 bedrooms and 3 bathrooms across the property; Fully occupied with updated leases
