2115 W Dean Ave, Spokane, WA 99201
Triplex offering two finished units plus an unfinished 1984 structure that could be completed for additional rental space.
- Added:
- Jun 3, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 5 at 1:59 am
Property Features for 2115 W Dean Ave
General Information
- Standard status
- Active
- Size
- 2,311 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1898
Listing agent Rachel Moore
Listing office eXp Realty, LLC
Listing date Jun 3, 2026
Source Clearwaterproperties
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 eXp Realty, LLC
HighLights
- Spokane triplex with two finished units in the main front home: one 2 bed/1 bath and one 1 bed/1 bath
- Detached third structure built in 1984 off the alley is unfinished inside and could be completed for an additional 2 bed/1 bath unit
- Pro forma gross rents projected at approximately $3,400/month when fully finished and leased (buyer to verify)
- Both buildings have new roofs
- Older main home is updated (year unknown)
- Craftsman style; alley access via detached third structure
Overview
The property is located in West Central near I-90, with access to downtown, Gonzaga, SFCC, WSU Spokane, and the Spokane River, and it is only a short drive to Spokane International Airport. The detached structure’s alley access supports flexible layout planning for future completion.
For buyers looking for an income property with room to improve, the combination of two existing residential units and a detached, unfinished third structure provides a straightforward path to expand living space within the same triplex configuration. Buyer to verify all details related to completion scope and achievable rents.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.2k | $17.40 |
| − Vacancy | −$2.4k | −$1.06 |
| EGI | $37.8k | $16.34 |
| − OpEx | −$11.3k | −$4.90 |
| NOI | $26.4k | $11.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.4438489
- Latitude
- 47.6659573
