Renovated Triplex Rental
1824 & 1830 W Maxwell Ave Spokane, WA 99201
New
For Sale
$1,150,000
Two fully renovated triplexes each offering three 1 bed/1 bath units, with reserved parking and private fenced yards.
Property Size3,240 SF
Price / SF$354.94
Days on Market5
Property Features for 1824 & 1830 W Maxwell Ave
General Information
- Standard status
- Active
- Size
- 3,240 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1977
Listing Agency:
LT Real Estate
(509) 315-8720
Listed By:
Ryan Towner · License #24027253
Source:
Clearwaterproperties
Added: Jul 20
Changed: Jul 22
Last Checked: Jul 23 at 6:35AM
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 LT Real Estate
Investment Insights
Based on property information with market context.
This offering includes two fully renovated triplexes, for a total of six 1 bed/1 bath units. Each building has three units, and extensive renovations were completed in 2023, including new kitchens with updated appliances, countertops, and cabinetry, along with new LVP flooring and carpet throughout. Units also include new GE stacked washer and dryer sets. The property provides reserved parking and private, individually fenced yards for each unit, supporting a low-maintenance ownership model.
The two buildings are located at 1824 W Maxwell and 1830 W Maxwell in Spokane, WA. A new roof was added to the 1830 W Maxwell building in 2022.
At the time of listing, 1830 W Maxwell is generating $3,800 per month in gross rents and 1824 W Maxwell is generating $3,750 per month in gross rents.
The two buildings are located at 1824 W Maxwell and 1830 W Maxwell in Spokane, WA. A new roof was added to the 1830 W Maxwell building in 2022.
At the time of listing, 1830 W Maxwell is generating $3,800 per month in gross rents and 1824 W Maxwell is generating $3,750 per month in gross rents.
Key Highlights
- Two fully renovated triplexes, each with three 1 bed/1 bath units (6 units total).
- Each building is 1,620 SF, built in 1977, and renovated extensively in 2023.
- 2023 updates include new kitchens with updated appliances, countertops, cabinetry, and new LVP flooring and carpet.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.4k | $17.40 |
| − Vacancy | −$3.4k | −$1.06 |
| EGI | $52.9k | $16.34 |
| − OpEx | −$15.9k | −$4.90 |
| NOI | $37.1k | $11.44 |
3,240 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,064 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$460.4K
$402.8K – $537.1K
NOI $32,225 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Two fully renovated triplexes each offering three 1 bed/1 bath units, with reserved parking and private fenced yards.
Where is this triplex located?
The property is located at 1824 & 1830 W Maxwell Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two fully renovated triplexes, each with three 1 bed/1 bath units (6 units total).; Each building is 1,620 SF, built in 1977, and renovated extensively in 2023.; 2023 updates include new kitchens with updated appliances, countertops, cabinetry, and new LVP flooring and carpet.
