Victorian
For Sale
$399,900
1911 2nd, Spokane, WA 99201
Historic two-story property with four occupied one-bedroom residences, basement storage, and alley-accessed off-street parking.
Property Size2,584 SF
Price / SF$154.76
Days on Market55
Property Features for 1911 2nd
General Information
Standard status
Active
Size
2,584 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$41,340
Taxes and HOA fees
Annual Taxes
$3,769
Amenities
Garage: Off Site, Shared Driveway
Style: Victorian
Victorian
Off Site, Shared Driveway
Building Details
Year Built
1900
Buildings
1
Stories
2
Construction
Victorian
Tenancy
Multi
Listing Agency:
REAL Broker LLC
Listed By:
Matthew Brunner · License #B97277
(855) 450-0442
Source:
Clearwaterproperties
Added: Aug 21
Changed: Oct 13
Last Checked: Oct 12 at 7:39PM
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 REAL Broker LLC
Investment Insights
Based on property information with market context.
Built circa 1900, this Victorian quadplex contains 2,584 square feet arranged as four one-bedroom, one-bath units across two stories. Architectural details include curved bay windows, arched fanlights, twin columned porches, and a river-rock chimney extending from the front façade to the roofline. A partial basement provides storage and space for mechanical equipment.
The property is 100% occupied, with current leases expiring on a staggered basis into 2027. Gravel off-street parking is located behind the building and is accessed from the alley. The property is in Browne's Addition, within walking distance of Coeur d'Alene Park, the MAC, and neighborhood cafés and pubs, with downtown Spokane, Kendall Yards, and the medical district minutes away.
The property is 100% occupied, with current leases expiring on a staggered basis into 2027. Gravel off-street parking is located behind the building and is accessed from the alley. The property is in Browne's Addition, within walking distance of Coeur d'Alene Park, the MAC, and neighborhood cafés and pubs, with downtown Spokane, Kendall Yards, and the medical district minutes away.
Key Highlights
- Four 1 bed/1 bath units within a 2,584 sq ft quadplex
- Circa‑1900 Victorian architecture with bay windows, fanlights, columned porches, and river‑rock chimney
- 100% occupied with staggered lease expirations into 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,560
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$591,200
$591.2K
Cap Rate 7%
$422,286
$422.3K
Cap Rate 9%
$328,444
$328.4K
Market Conditions
NOI Build-Up for 2,584 SF
Gross rent
$45.0K $17.40/SF
− Vacancy
−$2.7K −$1.06/SF
EGI
$42.2K $16.34/SF
− OpEx
−$12.7K −$4.90/SF
NOI
$29.6K $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%
$591,200
Cap Rate 7%
$422,286
Cap Rate 9%
$328,444
Alternative Uses
Best Use
Multifamily LT 5
$422.3K
$369.5K – $492.7K
NOI $29,560 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$367.1K
$321.3K – $428.3K
NOI $25,700 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$666.7K
$583.3K – $777.8K
NOI $46,667 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,035
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
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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 - Historic two-story property with four occupied one-bedroom residences, basement storage, and alley-accessed off-street parking.
Where is this quadplex located?
The property is located at 1911 2nd Spokane, WA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four 1 bed/1 bath units within a 2,584 sq ft quadplex; Circa‑1900 Victorian architecture with bay windows, fanlights, columned porches, and river‑rock chimney; 100% occupied with staggered lease expirations into 2027
