Multifamily Property with Unfinished
For Sale
$305,000
2115 W Dean Ave, Spokane, WA 99201
Residential Income, Spokane, WA
Property Size2,311 SF
Lot Size0.11 Acres
Price / SF$131.98
Days on Market142
Property Features for 2115 W Dean Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 4, Laundry Room, Bathroom 3, Utility Room, Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Basement, Bedroom 1
Parking features
Alley
Window features
Skylight(s)
Patio and Porch features
Deck
Interior features
Hot Water
Basement
Unfinished, Partial
Appliances
Free-Standing Range, Refrigerator, Washer, Dryer
Subdivision
Nettleton
Lot features
Fencing, Level, Open Lot
View
City
Elementary school
Holmes
Middle school
Yasuhara
High school
North Central
Elementary school district
Spokane Dist 81
Directions
I-90 West to Exit 280A (Maple St.), North on Maple St., West on Gardner Ave., South on Chestnut St., West on Dean Ave.
Standard status
Active
APN
25132.0512
Size
2,311 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
3957
Utilities
Heating system
Baseboard, Forced Air, Natural Gas
Building Details
Year built
1898
Floors in Building
2
Number of units
3
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Rachel Moore
(360) 339-5093
Added: Jun 2
Changed: Oct 20
Last Checked: Oct 21 at 9:06AM
MLS# 202618489
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 2,311-square-foot property includes a main Craftsman-style home with two apartments: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. A detached building, constructed in 1984, is unfinished and could accommodate a two-bedroom, one-bathroom unit. The main house dates to 1898. Both structures have new roofs, and the property occupies 0.11 acres with R1 zoning.
The property is in Spokane’s West Central area, near I-90, downtown, Gonzaga, SFCC, WSU Spokane, and the Spokane River. Spokane International Airport is also a short drive away.
The property is in Spokane’s West Central area, near I-90, downtown, Gonzaga, SFCC, WSU Spokane, and the Spokane River. Spokane International Airport is also a short drive away.
Key Highlights
- Main residence contains a 2‑bedroom, 1‑bathroom apartment and a 1‑bedroom, 1‑bathroom apartment
- Detached 1984 structure is unfinished and configured for a potential 2‑bedroom, 1‑bathroom unit
- 2,311 square feet on 0.11 acres; zoned R1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,985
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,700
$459.7K
Cap Rate 7%
$328,357
$328.4K
Cap Rate 9%
$255,389
$255.4K
Market Conditions
NOI Build-Up for 2,311 SF
Gross rent
$44.6K $19.32/SF
− Vacancy
−$2.9K −$1.24/SF
EGI
$41.8K $18.08/SF
− OpEx
−$18.8K −$8.14/SF
NOI
$23.0K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,700
Cap Rate 7%
$328,357
Cap Rate 9%
$255,389
Alternative Uses
Best Use
Apartment 5plus
$328.4K
$287.3K – $383.1K
NOI $22,985 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$596.2K
$521.7K – $695.6K
NOI $41,737 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
552
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences are in place, with a separate unfinished structure configured for a potential additional dwelling.
Where is this multifamily property located?
The property is located at 2115 W Dean Ave Spokane, WA.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Main residence contains a 2‑bedroom, 1‑bathroom apartment and a 1‑bedroom, 1‑bathroom apartment; Detached 1984 structure is unfinished and configured for a potential 2‑bedroom, 1‑bathroom unit; 2,311 square feet on 0.11 acres; zoned R1
