5-Unit Apartment
1717 E Mission Ave, Spokane, WA 99201
For Sale
$499,900
The unit mix includes four one-bedroom apartments and one two-bedroom apartment; most units have been updated.
Property Size3,072 SF
Price / SF$162.73
Days on Market18
Property Features for 1717 E Mission Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
Windermere North
(509) 467-6640
Listed By:
Brandi Graham-Snow
(509) 435-7674
Source:
Exprealty
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 8 at 7:10AM
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 Windermere North
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Investment Insights
Based on property information with market context.
This apartment property contains five units: four one-bedroom apartments and one two-bedroom apartment. All are currently rented, and most have received updates. The site is zoned RMF, which the listing identifies as allowing apartment buildings up to three stories.
The property is offered only together with the adjoining four-unit property at 1723 E Mission Ave. Nearby destinations named include the Spokane River, Witter Aquatic Center, Centennial Trail, Mission Park, Gonzaga University, Spokane Community College and Downtown Spokane.
The property is offered only together with the adjoining four-unit property at 1723 E Mission Ave. Nearby destinations named include the Spokane River, Witter Aquatic Center, Centennial Trail, Mission Park, Gonzaga University, Spokane Community College and Downtown Spokane.
Key Highlights
- Five occupied units: four one‑bedroom apartments and one two‑bedroom apartment
- Most units have been updated
- RMF zoning allows apartment buildings up to three stories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,554
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,080
$611.1K
Cap Rate 7%
$436,486
$436.5K
Cap Rate 9%
$339,489
$339.5K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$59.4K $19.32/SF
− Vacancy
−$3.8K −$1.24/SF
EGI
$55.6K $18.08/SF
− OpEx
−$25.0K −$8.14/SF
NOI
$30.6K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,080
Cap Rate 7%
$436,486
Cap Rate 9%
$339,489
Alternative Uses
Best Use
Apartment 5plus
$436.5K
$381.9K – $509.2K
NOI $30,554 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$792.6K
$693.5K – $924.7K
NOI $55,480 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
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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
$259,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Spokane, WA
Properties on Market for Apartment buildings in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes four one-bedroom apartments and one two-bedroom apartment; most units have been updated.
Where is this apartment building located?
The property is located at 1717 E Mission Ave Spokane, WA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Five occupied units: four one‑bedroom apartments and one two‑bedroom apartment; Most units have been updated; RMF zoning allows apartment buildings up to three stories
