Fourplex with Two-Bedroom
For Sale
$500,000
1703 E Cataldo Ave, Spokane, WA 99202
The property is 50% occupied, with four units configured as two-bedroom, one-bath residences.
Property Size3,136 SF
Price / SF$159.44
Days on Market121
Property Features for 1703 E Cataldo Ave
General Information
Standard status
Active
Size
3,136 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
50%
Site & Location
Neighborhood
East Central
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,381
Amenities
laundry
Building Details
Building Size
3,136 SF
Year Built
1972
Buildings
1
Stories
2
Units
4
Abandoned
No
Listing Agency:
Coldwell Banker Tomlinson
(509) 467-7400
Listed By:
Peter Enkema
(509) 879-8852
Source:
Ericksrealty
Added: Jun 25
Changed: Oct 23
Last Checked: Oct 23 at 4:51PM
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 Coldwell Banker Tomlinson
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Investment Insights
Based on property information with market context.
This 1972 fourplex contains four units, each with two bedrooms, one bathroom, and approximately 784 square feet. The building totals 3,136 square feet. Laundry is also noted as a property feature.
The property is on E Cataldo Ave in Spokane, near downtown, major employers, public transportation, shopping, dining, and everyday amenities. Current occupancy is 50%.
The property is on E Cataldo Ave in Spokane, near downtown, major employers, public transportation, shopping, dining, and everyday amenities. Current occupancy is 50%.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Approximately 784 square feet per unit; 3,136 square feet total
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,874
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,480
$717.5K
Cap Rate 7%
$512,486
$512.5K
Cap Rate 9%
$398,600
$398.6K
Market Conditions
NOI Build-Up for 3,136 SF
Gross rent
$54.6K $17.40/SF
− Vacancy
−$3.3K −$1.06/SF
EGI
$51.2K $16.34/SF
− OpEx
−$15.4K −$4.90/SF
NOI
$35.9K $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%
$717,480
Cap Rate 7%
$512,486
Cap Rate 9%
$398,600
Alternative Uses
Best Use
Multifamily LT 5
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$445.6K
$389.9K – $519.8K
NOI $31,190 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$809.1K
$708.0K – $943.9K
NOI $56,636 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The property is 50% occupied, with four units configured as two-bedroom, one-bath residences.
Where is this quadplex located?
The property is located at 1703 E Cataldo Ave Spokane, WA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Approximately 784 square feet per unit; 3,136 square feet total; Built in 1972
