Updated
For Sale
$514,999
1815 W 10th Ave, Spokane, WA 99204
Four one-bedroom units have received ongoing interior improvements and substantial exterior upgrades.
Property Size2,925 SF
Price / SF$176.07
Days on Market70
Property Features for 1815 W 10th Ave
General Information
Standard status
Active
Size
2,925 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1947
Listing Agency:
Windermere Manito, LLC
Listed By:
Khalil Beznaiguia · License #79117
(509) 475-2802
Source:
Clemensregroup
Added: Aug 7
Changed: Oct 10
Last Checked: Oct 13 at 1:52AM
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 Manito, LLC
Investment Insights
Based on property information with market context.
This fourplex contains four one-bedroom, one-bath residences, each measuring approximately 700+ square feet, within a 2,925-square-foot property. Interior work has been completed over time from 2007 through 2025 and includes flooring, paint, finishes, and appliances. The property has also received several larger-scale improvements, including window replacement in 2007, screen doors in 2008, lawn sprinklers and cyclone fencing in 2018, rear hallway carpet in 2019, and exterior painting with a new roof in 2026.
Located in Spokane’s South Hill area, the property is minutes from hospitals and downtown. Ongoing maintenance and a documented rental history add operating context for buyers evaluating a four-unit residential income asset. The unit configuration may also accommodate an owner-occupant seeking a smaller multifamily property, as stated in the property information.
Located in Spokane’s South Hill area, the property is minutes from hospitals and downtown. Ongoing maintenance and a documented rental history add operating context for buyers evaluating a four-unit residential income asset. The unit configuration may also accommodate an owner-occupant seeking a smaller multifamily property, as stated in the property information.
Key Highlights
- Four 1‑bedroom, 1‑bath units
- Approximately 700+ sq ft per unit; 2,925 sq ft property
- Interior improvements completed from 2007 through 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,460
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,200
$669.2K
Cap Rate 7%
$478,000
$478.0K
Cap Rate 9%
$371,778
$371.8K
Market Conditions
NOI Build-Up for 2,925 SF
Gross rent
$50.9K $17.40/SF
− Vacancy
−$3.1K −$1.06/SF
EGI
$47.8K $16.34/SF
− OpEx
−$14.3K −$4.90/SF
NOI
$33.5K $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%
$669,200
Cap Rate 7%
$478,000
Cap Rate 9%
$371,778
Alternative Uses
Best Use
Multifamily LT 5
$478.0K
$418.3K – $557.7K
NOI $33,460 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$415.6K
$363.7K – $484.9K
NOI $29,092 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$754.7K
$660.3K – $880.4K
NOI $52,826 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
4
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom units have received ongoing interior improvements and substantial exterior upgrades.
Where is this quadplex located?
The property is located at 1815 W 10th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $514,999.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units; Approximately 700+ sq ft per unit; 2,925 sq ft property; Interior improvements completed from 2007 through 2025
