Nine-Unit Triplex
1332 West Garland Avenue, Spokane, WA 99205
Portfolio of three triplexes with renovated interiors and recent roof and window replacements.
Type:Multifamily
Property size:
6,570 SFPrice / SF:
$197/SF- Added:
- Jun 11, 2026
- Days on Market:
- 17
- Last Refresh:
- Jun 20 at 8:32 am
Property Features for 1332 West Garland Avenue
General Information
- Standard status
- Active
- Size
- 6,570 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing office Paragon Group
Listing date Jun 11, 2026
Source Crexi
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 Paragon Group
HighLights
- Three triplexes portfolio: 9 total units across three parcels in Spokane’s Garland District
- Renovated interiors in 6 of 9 units, with additional unit renovation potential as vacancies occur
- Major CapEx completed: new roofs and new windows
- Year built: 1973
Overview
This for-sale portfolio includes three triplexes totaling 9 units across three parcels. Renovation work has already been completed in 6 of the 9 units, and the property has seen major capital improvements including new roofs and new windows. The result is a mix of updated interiors and remaining units that have not yet been renovated to the same standard.
The properties are located in Spokane’s Garland District at 3906-3912 N Cedar St and 1332-1336 W Garland Ave. With multiple addresses spread across separate parcels, the ownership structure supports a straightforward, unit-by-unit approach to ongoing updates.
For an owner-operator or investor seeking an income-producing residential portfolio, this asset offers a meaningful foundation of completed interior renovations alongside substantial building-level CapEx. As long-term tenants naturally move on, additional units can be targeted for renovation to align more closely with the completed interiors, allowing management to keep the property moving forward without changing the fundamental triplex structure. The current mix of improvements provides a practical basis for buyers looking to manage day-to-day operations while continuing phased upgrades.
The properties are located in Spokane’s Garland District at 3906-3912 N Cedar St and 1332-1336 W Garland Ave. With multiple addresses spread across separate parcels, the ownership structure supports a straightforward, unit-by-unit approach to ongoing updates.
For an owner-operator or investor seeking an income-producing residential portfolio, this asset offers a meaningful foundation of completed interior renovations alongside substantial building-level CapEx. As long-term tenants naturally move on, additional units can be targeted for renovation to align more closely with the completed interiors, allowing management to keep the property moving forward without changing the fundamental triplex structure. The current mix of improvements provides a practical basis for buyers looking to manage day-to-day operations while continuing phased upgrades.
Local 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 | $114.3k | $17.40 |
| − Vacancy | −$7.0k | −$1.06 |
| EGI | $107.4k | $16.34 |
| − OpEx | −$32.2k | −$4.90 |
| NOI | $75.2k | $11.44 |
6,570 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$939.5K – $1.25M
NOI $75,157 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$933.5K
$816.8K – $1.09M
NOI $65,345 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,654 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.4318888
- Latitude
- 47.6936399
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Portfolio of three triplexes with renovated interiors and recent roof and window replacements.
Where is this triplex located?
The property is located at 1332 West Garland Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three triplexes portfolio: 9 total units across three parcels in Spokane’s Garland District; Renovated interiors in 6 of 9 units, with additional unit renovation potential as vacancies occur; Major CapEx completed: new roofs and new windows
