Updated Duplex with Detached
For Sale
$399,000
420 W Shannon Ave, Spokane, WA 99205
Two separately metered units offer distinct layouts, updated kitchens and bathrooms, shared laundry, and a detached garage.
Property Size2,624 SF
Price / SF$152.06
Days on Market20
Property Features for 420 W Shannon Ave
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
shared laundry room
Building Details
Year Built
1891
Buildings
1
Listing Agency:
Silvercreek Realty Group
Listed By:
Chad Clelland · License #SP44044
(208) 252-9454
Source:
Clemensregroup
Added: Sep 18
Changed: Oct 6
Last Checked: Oct 5 at 10:53PM
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 Silvercreek Realty Group
Investment Insights
Based on property information with market context.
This 2,624-square-foot duplex, built in 1891, contains two separately metered residences with functional layouts and updates completed in 2022–23. The upper unit includes two bedrooms, a full bathroom, a kitchen with updated appliances, and newer paint. The main-level residence provides three bedrooms, including a primary bedroom with private backyard access and a large walk-in closet, along with updated kitchen and bathroom finishes. Both water heaters were replaced during the same update period.
A shared laundry room has been added, while the unfinished basement provides additional storage or future-use flexibility. The property also includes a spacious backyard and a detached garage reached from the rear alley. Located at 420 W Shannon Ave in Spokane, the duplex is 1.5 miles from downtown Spokane, Gonzaga, and Spokane’s Sports District.
A shared laundry room has been added, while the unfinished basement provides additional storage or future-use flexibility. The property also includes a spacious backyard and a detached garage reached from the rear alley. Located at 420 W Shannon Ave in Spokane, the duplex is 1.5 miles from downtown Spokane, Gonzaga, and Spokane’s Sports District.
Key Highlights
- 2,624‑square‑foot duplex built in 1891
- Two separately metered units with 2‑bedroom upper and 3‑bedroom main‑level layouts
- Both units updated in 2022–23 with newer appliances, kitchens, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,017
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$600,340
$600.3K
Cap Rate 7%
$428,814
$428.8K
Cap Rate 9%
$333,522
$333.5K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$45.7K $17.40/SF
− Vacancy
−$2.8K −$1.06/SF
EGI
$42.9K $16.34/SF
− OpEx
−$12.9K −$4.90/SF
NOI
$30.0K $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%
$600,340
Cap Rate 7%
$428,814
Cap Rate 9%
$333,522
Alternative Uses
Best Use
Multifamily LT 5
$428.8K
$375.2K – $500.3K
NOI $30,017 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$372.8K
$326.2K – $435.0K
NOI $26,098 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$677.0K
$592.4K – $789.8K
NOI $47,389 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer distinct layouts, updated kitchens and bathrooms, shared laundry, and a detached garage.
Where is this duplex located?
The property is located at 420 W Shannon 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: 2,624‑square‑foot duplex built in 1891; Two separately metered units with 2‑bedroom upper and 3‑bedroom main‑level layouts; Both units updated in 2022–23 with newer appliances, kitchens, and bathrooms
