Remodeled Two-Triplex
For Sale
$1,050,000
1830 W Maxwell Ave, Spokane, WA 99201
Six renovated residential units arranged across two separate buildings with shared parking and private outdoor areas.
Property Size3,240 SF
Price / SF$324.07
Days on Market13
Property Features for 1830 W Maxwell Ave
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
6.5%
Multifamily Units
6
Amenities
shared parking lot
private back yard areas
Building Details
Year Built
1977
Buildings
2
Listing Agency:
Opportunities W/ Venture CRE
Listed By:
Lyle Stratton · License #861100172
(360) 718-8787
Source:
Theoregonhomefinder
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 5 at 8:55AM
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 Opportunities W/ Venture CRE
Investment Insights
Based on property information with market context.
This multifamily offering includes two separate triplex buildings totaling 3,240 square feet across two tax lots. The six residential units have undergone comprehensive remodeling, with roof work included in the renovation scope. The property was built in 1977 and includes private backyard areas associated with the buildings.
A shared parking lot serves both structures, creating a common parking arrangement across the two parcels. The property is located at 1824 and 1830 W Maxwell Ave in Spokane, Washington, and is presented with a 6.5% cap rate. Detailed financial information is available through the seller’s offering materials. Showings require a ratified transaction and are subject to interior inspection.
A shared parking lot serves both structures, creating a common parking arrangement across the two parcels. The property is located at 1824 and 1830 W Maxwell Ave in Spokane, Washington, and is presented with a 6.5% cap rate. Detailed financial information is available through the seller’s offering materials. Showings require a ratified transaction and are subject to interior inspection.
Key Highlights
- Two separate triplex buildings on two tax lots
- Six units with complete remodeling, including the roofs
- 3,240 square feet of total property size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,064
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$741,280
$741.3K
Cap Rate 7%
$529,486
$529.5K
Cap Rate 9%
$411,822
$411.8K
Market Conditions
NOI Build-Up for 3,240 SF
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.
Gross rent
$56.4K $17.40/SF
− Vacancy
−$3.4K −$1.06/SF
EGI
$52.9K $16.34/SF
− OpEx
−$15.9K −$4.90/SF
NOI
$37.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$741,280
Cap Rate 7%
$529,486
Cap Rate 9%
$411,822
Alternative Uses
Best Use
Multifamily LT 5
$529.5K
$463.3K – $617.7K
NOI $37,064 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$460.4K
$402.8K – $537.1K
NOI $32,225 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$835.9K
$731.4K – $975.2K
NOI $58,514 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Six renovated residential units arranged across two separate buildings with shared parking and private outdoor areas.
Where is this triplex located?
The property is located at 1830 W Maxwell Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two separate triplex buildings on two tax lots; Six units with complete remodeling, including the roofs; 3,240 square feet of total property size
