Quadplex with Rental
1723 E Mission Ave, Spokane, WA 99202
For Sale
$399,900
Four apartments offer a mix of one- and two-bedroom layouts, plus a garage available for rental income.
Property Size3,428 SF
Price / SF$116.66
Days on Market18
Property Features for 1723 E Mission Ave
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Unit Mix
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 11:30AM
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 3,428-square-foot quadplex contains two one-bedroom apartments and two two-bedroom apartments. A garage on the property can also be rented, and the building received a new roof in 2020. RMF zoning allows for apartment buildings up to three stories, subject to buyer verification with the City.
The property is being offered only with the adjoining five-unit complex at 1717 E Mission Ave; both properties are zoned RMF. Nearby destinations include the Spokane River, Witter Aquatic Center, Centennial Trail, Mission Park, Gonzaga University, Spokane Community College and downtown Spokane.
The property is being offered only with the adjoining five-unit complex at 1717 E Mission Ave; both properties are zoned RMF. Nearby destinations include the Spokane River, Witter Aquatic Center, Centennial Trail, Mission Park, Gonzaga University, Spokane Community College and downtown Spokane.
Key Highlights
- Four apartments: two one‑bedroom units and two two‑bedroom units
- 3,428 square feet
- RMF zoning; apartment buildings up to 3 stories, subject to City verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,095
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$681,900
$681.9K
Cap Rate 7%
$487,071
$487.1K
Cap Rate 9%
$378,833
$378.8K
Market Conditions
NOI Build-Up for 3,428 SF
Gross rent
$66.2K $19.32/SF
− Vacancy
−$4.2K −$1.24/SF
EGI
$62.0K $18.08/SF
− OpEx
−$27.9K −$8.14/SF
NOI
$34.1K $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%
$681,900
Cap Rate 7%
$487,071
Cap Rate 9%
$378,833
Alternative Uses
Best Use
Multifamily LT 5
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$487.1K
$426.2K – $568.3K
NOI $34,095 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$884.4K
$773.9K – $1.03M
NOI $61,910 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
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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
$268,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Spokane, WA
Properties on Market for Quadplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments offer a mix of one- and two-bedroom layouts, plus a garage available for rental income.
Where is this quadplex located?
The property is located at 1723 E Mission Ave Spokane, WA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four apartments: two one‑bedroom units and two two‑bedroom units; 3,428 square feet; RMF zoning; apartment buildings up to 3 stories, subject to City verification
