Victorian 4-Unit
For Sale
$399,900
1911 W 2nd Ave, Spokane, WA 99201
Four one-bedroom apartments span two stories, with a partial basement for storage and mechanical equipment.
Property Size2,584 SF
Price / SF$154.76
Days on Market78
Property Features for 1911 W 2nd Ave
General Information
Standard status
Active
Size
2,584 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Brownes Addition
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$41,340
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,769
Building Details
Building Size
2,584 SF
Year Built
1900
Buildings
1
Stories
2
Units
4
Construction
Victorian
Tenancy
Multi
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Matthew Brunner · License #B97277
(509) 217-7444
Source:
Ericksrealty
Added: Aug 12
Changed: Oct 25
Last Checked: Oct 26 at 3:46AM
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
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,584-square-foot Victorian quadplex contains four one-bedroom, one-bathroom apartments across two stories. The exterior features curved bay windows, an arched fanlight, paired columned porches and a river-rock chimney. A partial basement provides storage and mechanical space.
All four apartments are occupied, with current leases set to expire on staggered dates through 2027. Gravel off-street parking is accessed from the alley. The property is in Browne’s Addition, a few blocks from downtown Spokane and within walking distance of Coeur d’Alene Park, the MAC, cafes and pubs. Kendall Yards and the medical district are also minutes away.
All four apartments are occupied, with current leases set to expire on staggered dates through 2027. Gravel off-street parking is accessed from the alley. The property is in Browne’s Addition, a few blocks from downtown Spokane and within walking distance of Coeur d’Alene Park, the MAC, cafes and pubs. Kendall Yards and the medical district are also minutes away.
Key Highlights
- Four 1‑bedroom/1‑bathroom apartments in a 2,584‑square‑foot building
- Constructed in 1900 with Victorian‑era architectural features
- Two‑story layout with a partial basement for storage and mechanicals
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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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,035
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments span two stories, with a partial basement for storage and mechanical equipment.
Where is this quadplex located?
The property is located at 1911 W 2nd Ave 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‑bedroom/1‑bathroom apartments in a 2,584‑square‑foot building; Constructed in 1900 with Victorian‑era architectural features; Two‑story layout with a partial basement for storage and mechanicals
