4-Unit Quadplex with
1423 N Post St, Spokane, WA 99201
For Sale
$447,500
All four residences are occupied under month-to-month arrangements, and tenants cover their own electric and heat.
Property Size2,730 SF
Price / SF$163.92
Days on Market117
Property Features for 1423 N Post St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Building Size
Year Built
Units
Listing Agency:
Deese Real Estate
(509) 293-9291
Listed By:
Billy Deese · License WA #27657
(509) 590-5603
Source:
Ericksrealty
Added: Jul 16
Changed: Nov 7
Last Checked: Nov 9 at 12:48PM
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 Deese Real Estate
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Investment Insights
Based on property information with market context.
Built in 1906, this 2,730-square-foot quadplex contains four residences: one studio, two one-bedroom/one-bath units, and one two-bedroom/one-bath unit. The property also has a three-car garage with workshop area. Recent exterior paint provides an updated finish, while alley access serves the property.
The building is a short drive from downtown Spokane and the Arena. All units are occupied, with month-to-month tenancy; residents pay their own electric and heat. The unit mix and existing occupancy provide a clear picture of the property’s current configuration.
The building is a short drive from downtown Spokane and the Arena. All units are occupied, with month-to-month tenancy; residents pay their own electric and heat. The unit mix and existing occupancy provide a clear picture of the property’s current configuration.
Key Highlights
- Four units: one studio, two 1‑bedroom/1‑bath units, and one 2‑bedroom/1‑bath unit
- 2,730 sq ft building, constructed in 1906
- Three‑car garage with workshop space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,230
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,600
$624.6K
Cap Rate 7%
$446,143
$446.1K
Cap Rate 9%
$347,000
$347.0K
Market Conditions
NOI Build-Up for 2,730 SF
Gross rent
$47.5K $17.40/SF
− Vacancy
−$2.9K −$1.06/SF
EGI
$44.6K $16.34/SF
− OpEx
−$13.4K −$4.90/SF
NOI
$31.2K $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%
$624,600
Cap Rate 7%
$446,143
Cap Rate 9%
$347,000
Alternative Uses
Best Use
Multifamily LT 5
$446.1K
$390.4K – $520.5K
NOI $31,230 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.5K
NOI $27,152 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$704.3K
$616.3K – $821.7K
NOI $49,304 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,683
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
$259,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Spokane, WA
Properties on Market for Quadplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied under month-to-month arrangements, and tenants cover their own electric and heat.
Where is this quadplex located?
The property is located at 1423 N Post St Spokane, WA.
What is the asking price?
The asking price for this property is $447,500.
What are key features of this property?
This property features: Four units: one studio, two 1‑bedroom/1‑bath units, and one 2‑bedroom/1‑bath unit; 2,730 sq ft building, constructed in 1906; Three‑car garage with workshop space
