Low-Maintenance Triplex with
1902 E Everett Ave, Spokane, WA 99207
For Sale
$430,000
Well-cared-for triplex with separate utilities, wall A/C, and in-unit washer/dryer hookups.
Property Size2,175 SF
Price / SF$197.70
Days on Market137
Property Features for 1902 E Everett Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Tenancy
Listing Agency:
SDS Realty, Inc.
(509) 624-1019
Listed By:
Jay Overholser · License #43093
(509) 995-8151
Source:
Exprealty
Added: Jun 24
Changed: Nov 3
Last Checked: Nov 6 at 9:35AM
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 SDS Realty, Inc.
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Investment Insights
Based on property information with market context.
This low-maintenance triplex offers a practical, self-contained setup for each tenant. Each unit includes its own wall A/C, individual electric baseboard heat and hot water, and washer/dryer hookups. Interior finishes feature vinyl plank flooring with carpeted bedrooms. Each unit is separately metered, and the property also has a roof that was installed approximately in 2017.
A key convenience is the single-car garage assigned to each unit on the west side of the building. The seller notes there may be potential to convert that space into a fourth unit while still maintaining off-street parking or reconfiguring garage setup.
The property sits on Spokane’s northeast side, with Rochester Heights Park located directly across the street.
A key convenience is the single-car garage assigned to each unit on the west side of the building. The seller notes there may be potential to convert that space into a fourth unit while still maintaining off-street parking or reconfiguring garage setup.
The property sits on Spokane’s northeast side, with Rochester Heights Park located directly across the street.
Key Highlights
- Ranch‑style triplex built in 1977 with 3 attached garage spaces
- Each unit has its own single‑car garage plus off‑street parking potential
- Separate utilities: each unit has individually metered electric baseboard heat and hot water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,881
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,620
$497.6K
Cap Rate 7%
$355,443
$355.4K
Cap Rate 9%
$276,456
$276.5K
Market Conditions
NOI Build-Up for 2,175 SF
Gross rent
$37.8K $17.40/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$35.5K $16.34/SF
− OpEx
−$10.7K −$4.90/SF
NOI
$24.9K $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%
$497,620
Cap Rate 7%
$355,443
Cap Rate 9%
$276,456
Alternative Uses
Best Use
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$309.0K
$270.4K – $360.5K
NOI $21,632 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$561.2K
$491.0K – $654.7K
NOI $39,281 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
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Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Spokane, WA
Properties on Market for Triplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Well-cared-for triplex with separate utilities, wall A/C, and in-unit washer/dryer hookups.
Where is this triplex located?
The property is located at 1902 E Everett Ave Spokane, WA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Ranch‑style triplex built in 1977 with 3 attached garage spaces; Each unit has its own single‑car garage plus off‑street parking potential; Separate utilities: each unit has individually metered electric baseboard heat and hot water
