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    Renovated Multi-Structure Multifamily Property Title is generated by Realmo AI

    1848 W Bridge Ave, Spokane, WA 99201

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    For Sale
    $1,200,000

    MULTI_FAMILY - Other - Spokane, WA

    Property size:
    4,100 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $292/SF
    Added:
    Jun 6, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 6 at 9:06 pm

    Property Features for 1848 W Bridge Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    5
    Rooms
    Utility Room, Bedroom 7, Bedroom 8, Laundry Room, Bedroom 6, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 5, Bedroom 1, Bathroom 1, Bedroom 5
    Parking features
    Garage, Offsite, Open
    Spa
    1
    Window features
    Wood Frames, Skylight(s)
    Patio and Porch features
    Patio, Deck
    Interior features
    Hot Water, High Speed Internet, Pantry, Natural Woodwork, In-Law Floorplan
    Exterior features
    Spa/Hot Tub
    Basement
    Full, Walk-Out Access, Finished
    Appliances
    Free-Standing Range, Gas Range, Dishwasher, Refrigerator, Microwave, Washer, Dryer
    Standard status
    Active
    APN
    25134.1622
    Size
    4,100 SF
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2493

    Utilities

    Utilities
    Cable Available
    Heating system
    Ductless (Heating), Heat Pump (Heating), Forced Air, Natural Gas
    Cooling system
    Ductless

    Building Details

    Year built
    1909
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Vinyl, Wood
    Building materials
    Steel Frame
    Roof type
    Composition
    Architectural style
    Other
    Additional Structures
    Guest House

    We can help!

    Listing Contact
    Hunter Mackay
    Hunter Mackay

    Listing agent Hunter Mackay License #20123491

    Listing office eXp Realty, LLC 601 W 1st Ave Ste 1400, Seattle, WA

    Listing date Jun 6, 2026

    MLS# 202618844 Listing URL

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Completely renovated with updated electrical and plumbing, luxury fixtures, custom cabinetry, quartz countertops, and LVP flooring
    • Main residence offers 1,800 sq ft with 3 bedrooms and 2 bathrooms, featuring an open layout and a modern chefs kitchen
    • Lower level includes 1,100 sq ft with 2 bedrooms and 1 bathroom, plus a full kitchen and spa bath with steam shower and soaking tub
    • Outdoor area connects the spaces with two hot tubs, built‑in grilling, a fireplace, and seating for year‑round use
    • Second structure (built in the 1970s, renovated in 2023) offers nearly 1,400 sq ft with 3 bedrooms and 2 bathrooms, plus balcony, new roof, and skylights
    • In‑law floorplan setup supporting living in one unit and renting others or multifamily; no HOA fees reported

    Overview

    This renovated multifamily property has been redesigned with modern improvements while keeping the home’s character. The main residence features approximately 1,800 square feet with 3 bedrooms and 2 bathrooms, an open layout, and a modern chef’s kitchen. The lower level offers approximately 1,100 square feet with 2 bedrooms and 1 bathroom, including a full kitchen and a spa bath with a steam shower and soaking tub. An outdoor area connects the spaces and includes two hot tubs, built-in grilling, a fireplace, and seating built for year-round use.

    A second structure built in the 1970s was renovated in 2023 and provides nearly 1,400 square feet with 3 bedrooms and 2 bathrooms, plus a balcony. Updates include a new roof and skylights, supporting a cohesive, turnkey lifestyle across the property. The location supports walkability to restaurants, trails, and community amenities in Kendall Yards, and there are no HOA fees.

    The layout is well-suited for multi-generational living or hosting guests while maintaining rental flexibility. Recent upgrades such as updated electrical, plumbing, luxury fixtures, custom cabinetry, quartz countertops, and LVP flooring help reduce near-term maintenance concerns and support a broad range of residential use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.439754
    Latitude
    47.662793

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    FAQs

    What type of property is this?
    Quadplex - Completely renovated residences with modern updates, flexible unit setup, and an outdoor area for year-round entertaining.
    Where is this quadplex located?
    The property is located at 1848 W Bridge Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Completely renovated with updated electrical and plumbing, luxury fixtures, custom cabinetry, quartz countertops, and LVP flooring; Main residence offers 1,800 sq ft with 3 bedrooms and 2 bathrooms, featuring an open layout and a modern chefs kitchen; Lower level includes 1,100 sq ft with 2 bedrooms and 1 bathroom, plus a full kitchen and spa bath with steam shower and soaking tub
    (360) 339-5093
    We can help!
    Listing Contact
    Hunter Mackay
    Hunter Mackay
    Real Estate License ID: 20123491
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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