8-Unit Brick Apartment
For Sale
$915,000
1722 W 11th Ave, Spokane, WA 99204
Brick construction and individually controlled radiator heat serve the updated units.
Property Size6,819 SF
Price / SF$134.18
Days on Market73
Property Features for 1722 W 11th Ave
General Information
Standard status
Active
Size
6,819 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Cliff-Cannon
Additional Details
Multifamily Units
8
Amenities
leased laundry machines
storage
Building Details
Year Built
1914
Construction
brick
Listing Agency:
SDS Realty, Inc.
Listed By:
Jay Overholser
(509) 995-8151
Source:
Clemensregroup
Added: Aug 13
Changed: Oct 7
Last Checked: Oct 7 at 4:03PM
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 SDS Realty, Inc.
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Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 6,819 square feet and dates to 1914. The building features a brick exterior, hardwood floors, original woodwork, and individually controlled hot-water radiators serving the updated units. A full basement provides resident and owner storage along with leased laundry machines, the boiler, and tanks.
The property includes 1015 and 1017 S Cherry, where former garages were converted to units in the '50s, plus a detached one-bedroom unit at 1720 W 11th. All three are located on the same lot and have independent heat, lights, and hot water. The primary property address is 1722 11th, Spokane, WA 99204.
The property includes 1015 and 1017 S Cherry, where former garages were converted to units in the '50s, plus a detached one-bedroom unit at 1720 W 11th. All three are located on the same lot and have independent heat, lights, and hot water. The primary property address is 1722 11th, Spokane, WA 99204.
Key Highlights
- 8‑unit apartment property with 6,819 square feet
- 1914 construction with brick exterior, hardwood floors, and original woodwork
- Individually controlled hot‑water radiators in the updated units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,821
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,356,420
$1.4M
Cap Rate 7%
$968,871
$968.9K
Cap Rate 9%
$753,567
$753.6K
Market Conditions
NOI Build-Up for 6,819 SF
Gross rent
$131.7K $19.32/SF
− Vacancy
−$8.4K −$1.24/SF
EGI
$123.3K $18.08/SF
− OpEx
−$55.5K −$8.14/SF
NOI
$67.8K $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%
$1,356,420
Cap Rate 7%
$968,871
Cap Rate 9%
$753,567
Alternative Uses
Best Use
Apartment 5plus
$968.9K
$847.8K – $1.13M
NOI $67,821 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,151 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Brick construction and individually controlled radiator heat serve the updated units.
Where is this apartment building located?
The property is located at 1722 W 11th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: 8‑unit apartment property with 6,819 square feet; 1914 construction with brick exterior, hardwood floors, and original woodwork; Individually controlled hot‑water radiators in the updated units
