Remodeled
For Sale
$435,000
2012 Cincinnati, Spokane, WA 99207
Three residential units offer varied layouts, updated finishes, separate electric metering, and dedicated parking.
Property Size3,094 SF
Price / SF$140.59
Days on Market53
Property Features for 2012 Cincinnati
General Information
Standard status
Active
Size
3,094 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$49,200
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,721
Amenities
Garage: Off Site, Shared Driveway
Garage Spaces: 0
Style: Craftsman
Craftsman
Off Site, Shared Driveway
Building Details
Year Built
1899
Listing Agency:
REAL Broker LLC
Listed By:
Cindy Carrigan · License #21027304
(509) 844-3664
Source:
Clearwaterproperties
Added: Aug 30
Changed: Oct 21
Last Checked: Oct 20 at 6:29PM
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.
This three-unit residential property contains a 3-bedroom, 2-bath home, a 2-bedroom, 1-bath unit, and a 1-bedroom, 1-bath unit within 3,094 square feet. Two units have been updated, including the main-floor residence with new windows, LVP flooring, fresh paint, and improvements to the kitchen and bathroom. The property also features a newer roof, metal siding, newer appliances, separate electric meters, and designated parking within a fenced lot. The third unit has a long-term tenant.
The property is situated just north of Gonzaga University, with downtown Spokane, shopping, dining, the Spokane River, and Centennial Trail nearby. Its unit mix and separate metering support both owner-occupant and rental configurations described in the source information.
The property is situated just north of Gonzaga University, with downtown Spokane, shopping, dining, the Spokane River, and Centennial Trail nearby. Its unit mix and separate metering support both owner-occupant and rental configurations described in the source information.
Key Highlights
- 3,094‑square‑foot triplex with 3‑bedroom, 2‑bath; 2‑bedroom, 1‑bath; and 1‑bedroom, 1‑bath units
- Two units remodeled, including main‑floor updates to windows, LVP flooring, paint, kitchen, and bathroom
- Newer roof, metal siding, and newer appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,394
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,880
$707.9K
Cap Rate 7%
$505,629
$505.6K
Cap Rate 9%
$393,267
$393.3K
Market Conditions
NOI Build-Up for 3,094 SF
Gross rent
$53.8K $17.40/SF
− Vacancy
−$3.3K −$1.06/SF
EGI
$50.6K $16.34/SF
− OpEx
−$15.2K −$4.90/SF
NOI
$35.4K $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%
$707,880
Cap Rate 7%
$505,629
Cap Rate 9%
$393,267
Alternative Uses
Best Use
Multifamily LT 5
$505.6K
$442.4K – $589.9K
NOI $35,394 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$439.6K
$384.7K – $512.9K
NOI $30,773 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$798.3K
$698.5K – $931.3K
NOI $55,878 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer varied layouts, updated finishes, separate electric metering, and dedicated parking.
Where is this triplex located?
The property is located at 2012 Cincinnati Spokane, WA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 3,094‑square‑foot triplex with 3‑bedroom, 2‑bath; 2‑bedroom, 1‑bath; and 1‑bedroom, 1‑bath units; Two units remodeled, including main‑floor updates to windows, LVP flooring, paint, kitchen, and bathroom; Newer roof, metal siding, and newer appliances
