South Hill 5-Plex Rental
1621 W 9TH Ave Spokane, WA 99223
New
1621 W 9TH Ave, Spokane, WA, 99223
$529,000
For Sale
$529,000
MULTI_FAMILY - Craftsman - Spokane, WA
Property Size4,535 SF
Lot Size0.16 Acres
Price / SF$116.65
Days on Market1
Property Features for 1621 W 9TH Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 2
- Parking
- 1862
- Parking features
- Alley
- Patio and Porch features
- Patio
- Interior features
- Kitchen Island, Natural Woodwork
- Basement
- Full, Partially Finished
- Appliances
- Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer, Hard Surface Counters
- Standard status
- Active
- APN
- 25244.4304
- Size
- 4,535 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5552
Utilities
- Heating system
- Electric (Heating), Baseboard, Forced Air
Building Details
- Year built
- 1907
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Wood
- Building materials
- Wood Siding
- Roof type
- Composition
- Architectural style
- Craftsman
Listing Agency
RE/MAX Citibrokers
(509) 444-0365
2607 S Southeast Blvd - Ste A1, Spokane, WA
Listed by
Danny Pontius · License #117555
(509) 953-9539
Added: Jul 17 Checked: Jul 17 at 1:06 pm
MLS# 202621087
Listing URL
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained South Hill 5-plex includes four units in the main residence and a detached cottage in the backyard that serves as the fifth unit. Each unit is separately metered for electricity. The basement offers individual storage areas for tenants and includes a shared laundry facility.
The property is located in Spokane, WA at 1621 W 9TH Ave. The lot size is listed as 0.163 acres.
The listing notes the property has been thoughtfully restored and updated over time and is professionally managed. The seller has owned the property for many years, and it is currently presented as having a solid rental history with long-term tenants.
The property is located in Spokane, WA at 1621 W 9TH Ave. The lot size is listed as 0.163 acres.
The listing notes the property has been thoughtfully restored and updated over time and is professionally managed. The seller has owned the property for many years, and it is currently presented as having a solid rental history with long-term tenants.
Key Highlights
- South Hill 5‑plex with 4 units in the main residence plus a detached backyard cottage for the 5th unit
- All units are separately metered for electricity
- Basement includes individual tenant storage areas plus a shared laundry facility
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 | $87.6k | $19.32 |
| − Vacancy | −$5.6k | −$1.24 |
| EGI | $82.0k | $18.08 |
| − OpEx | −$36.9k | −$8.14 |
| NOI | $45.1k | $9.95 |
4,535 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$644.4K
$563.8K – $751.8K
NOI $45,105 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,902 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Satya Yoga and Chant
Gym & Fitness Center
One Source Design ...
Interior Design
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained 5-plex with four main units plus a detached fifth cottage, each separately metered for electricity.
Where is this apartment building located?
The property is located at 1621 W 9TH Ave Spokane, WA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: South Hill 5‑plex with 4 units in the main residence plus a detached backyard cottage for the 5th unit; All units are separately metered for electricity; Basement includes individual tenant storage areas plus a shared laundry facility
