Apartment Portfolio with 32
1427 W 7th Ave Spokane, WA 99204
1427 W 7th Ave, Spokane, WA, 99204
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For Sale
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32-unit portfolio includes four apartment properties with completed renovations across all sites.
Property Size3,919 SF
Price / SF$164.58
Days on Market114
Property Features for 1427 W 7th Ave
General Information
- Standard status
- Active
- Size
- 3,919 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1902
Listing agency
SVN | Cornerstone
(509) 496-6922
Listed by
Jordan Lester, CCIM, MBA · License #21008495
Source
Crexi
Added: Mar 30 Updated: Jul 20 at 8:46PM Checked: Jul 20 at 8:46PM
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 SVN | Cornerstone
Investment Insights
Based on property information with market context.
SVN Cornerstone is pleased to present the Spokane 32 Unit Portfolio for sale in Spokane, WA. The portfolio includes The Villa Maria Apartments (15 units), Astor Apartments (8 units), Seventh Apartments (6 units), and Carlisle Apartments (3 units).
All four properties have been very well maintained, with renovations completed across each property. The combined portfolio offers a multi-building residential income package consolidated under one offering at 1427 W 7th Ave, Spokane, WA 99204.
All four properties have been very well maintained, with renovations completed across each property. The combined portfolio offers a multi-building residential income package consolidated under one offering at 1427 W 7th Ave, Spokane, WA 99204.
Key Highlights
- 32‑unit apartment portfolio in Spokane, WA comprising four properties
- Portfolio includes The Villa Maria Apartments (15 units), Astor Apartments (8 units), Seventh Apartments (6 units), and Carlisle Apartments (3 units)
- All four properties are reported as very well maintained
Local Financial Insights For Apartment 5plus
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 | $75.7k | $19.32 |
| − Vacancy | −$4.8k | −$1.24 |
| EGI | $70.9k | $18.08 |
| − OpEx | −$31.9k | −$8.14 |
| NOI | $39.0k | $9.95 |
3,919 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$556.8K
$487.2K – $649.6K
NOI $38,978 @ 7.0% cap · market cap 6.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$884.7K – $1.18M
NOI $70,777 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 32-unit portfolio includes four apartment properties with completed renovations across all sites.
Where is this apartment building located?
The property is located at 1427 W 7th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 32‑unit apartment portfolio in Spokane, WA comprising four properties; Portfolio includes The Villa Maria Apartments (15 units), Astor Apartments (8 units), Seventh Apartments (6 units), and Carlisle Apartments (3 units); All four properties are reported as very well maintained
