Renovated Multifamily with On-Site
1427 W 7th Ave, Spokane, WA 99204
MULTI_FAMILY - Spokane, WA
Property size:
3,919 SFLot size:
0.16 AcresPrice / SF:
$164/SF- Added:
- Mar 30, 2026
- Days on Market:
- 82
- Last Refresh:
- Jun 19 at 1:06 pm
Property Features for 1427 W 7th Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RMF
- Bedrooms
- 5
- Rooms
- Bathroom 4, Bedroom 5, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bedroom 3, Bathroom 5, Bathroom 6, Bathroom 3
- Basement
- Unfinished
- Standard status
- Active
- APN
- 25244.3306
- Size
- 3,919 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- CANNONS ADD L7 B36
- Tax Annual Amount
- 5452
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Baseboard
- Water source
- Public
Building Details
- Year built
- 1902
- Number of units
- 6
- Building materials
- Wood Siding, Frame
- Roof type
- Composition
- Architectural style
- Other
Listing agent Jordan Lester License #1271842 (509) 496-6922
Listing office SVN Cornerstone Commercial 1311 N Washington, Spokane, WA (509) 321-2000
Listing date Mar 30, 2026
MLS# 26-2801
Listing URL
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Seventh Apartments included in a 29‑unit portfolio with additional properties: Villa Maria (418 E Mission Ave, 15 units) and Astor Apartments (2228 N Astor St, 8 units)
- Seventh Apartments has 6 units total: five 1 bed/1 bath units and one studio 3 (studio 3 on‑site)
- Renovations completed across the portfolio; Seventh Apartments includes $30,000 in capital improvements such as new water heaters and exterior paint
- Upgraded copper electrical wiring and on‑site parking for Seventh Apartments, plus ample street parking
- Public utilities: public water and public sewer
- Construction and systems include wood siding/frame, electric heating with baseboard, and a composition roof (year built 1902)
Overview
The Seventh Apartments at 1427 W 7th Ave is a 6-unit multifamily property with a unit mix of five 1 bed/1 bath units and one studio. The building includes on-site parking spaces and also benefits from ample street parking. The property has undergone $30,000 in capital improvements, including new water heaters and exterior paint, along with upgraded copper electrical wiring. One unit is located in a separate building on the same lot.
The Seventh Apartments are part of a 29-unit portfolio that includes The Villa Maria Apartments with 15 units at 418 E Mission Ave and Astor Apartments with 8 units at 2228 N Astor St, in addition to Seventh Apartments at 1427 W 7th Ave. Across all three properties, the portfolio is described as very well maintained, with renovations completed.
For investors or owner-operators seeking a small, renovated apartment building in Spokane, Seventh Apartments offers a defined 6-unit configuration and recent improvements centered on major systems and exterior presentation. The inclusion of both on-site and street parking can support day-to-day tenant needs, and the separate-building layout may provide operational flexibility within the same lot.
The Seventh Apartments are part of a 29-unit portfolio that includes The Villa Maria Apartments with 15 units at 418 E Mission Ave and Astor Apartments with 8 units at 2228 N Astor St, in addition to Seventh Apartments at 1427 W 7th Ave. Across all three properties, the portfolio is described as very well maintained, with renovations completed.
For investors or owner-operators seeking a small, renovated apartment building in Spokane, Seventh Apartments offers a defined 6-unit configuration and recent improvements centered on major systems and exterior presentation. The inclusion of both on-site and street parking can support day-to-day tenant needs, and the separate-building layout may provide operational flexibility within the same lot.
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 Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.433817
- Latitude
- 47.649121
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated 6-unit apartment building with a mix of studios and 1-bed units and on-site parking for added convenience.
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: Seventh Apartments included in a 29‑unit portfolio with additional properties: Villa Maria (418 E Mission Ave, 15 units) and Astor Apartments (2228 N Astor St, 8 units); Seventh Apartments has 6 units total: five 1 bed/1 bath units and one studio 3 (studio 3 on‑site); Renovations completed across the portfolio; Seventh Apartments includes $30,000 in capital improvements such as new water heaters and exterior paint
