Renovated Triplex With Private
For Sale
$449,900
218 E Baldwin Ave, Spokane, WA 99207
Three refreshed units offer individual laundry, updated interiors, and assigned parking with additional guest spaces.
Property Size1,784 SF
Price / SF$252.19
Days on Market181
Property Features for 218 E Baldwin Ave
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Residential Income
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Toby Blodgett · License #SP47793
(208) 916-5124
Source:
Exprealty
Added: Apr 10
Changed: Oct 5
Last Checked: Oct 5 at 11:18PM
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
Investment Insights
Based on property information with market context.
This triplex has undergone comprehensive updates to its plumbing, electrical systems, roof, and siding. All three units feature contemporary interiors with laminate plank flooring, white cabinetry, quartz countertops, stainless steel appliances, refreshed bathrooms, and private washer and dryer sets. The property includes a full perimeter fence and an on-site parking area with a designated space for each unit, along with additional room for guests.
Located at 218 E Baldwin Ave in Spokane, the property is near Gonzaga University, shopping, and restaurants. The unit-by-unit improvements and individual laundry amenities support an income-producing residential configuration with practical features for occupants.
Located at 218 E Baldwin Ave in Spokane, the property is near Gonzaga University, shopping, and restaurants. The unit-by-unit improvements and individual laundry amenities support an income-producing residential configuration with practical features for occupants.
Key Highlights
- Triplex with updates to plumbing, electrical, roof, and siding
- All units include laminate plank flooring, quartz countertops, and stainless steel appliances
- Refreshed bathrooms feature updated showers, vanities, faucets, and fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,408
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$408,160
$408.2K
Cap Rate 7%
$291,543
$291.5K
Cap Rate 9%
$226,756
$226.8K
Market Conditions
NOI Build-Up for 1,784 SF
Gross rent
$31.0K $17.40/SF
− Vacancy
−$1.9K −$1.06/SF
EGI
$29.2K $16.34/SF
− OpEx
−$8.7K −$4.90/SF
NOI
$20.4K $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%
$408,160
Cap Rate 7%
$291,543
Cap Rate 9%
$226,756
Alternative Uses
Best Use
Multifamily LT 5
$291.5K
$255.1K – $340.1K
NOI $20,408 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$253.5K
$221.8K – $295.7K
NOI $17,744 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$460.3K
$402.7K – $537.0K
NOI $32,219 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,268
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three refreshed units offer individual laundry, updated interiors, and assigned parking with additional guest spaces.
Where is this triplex located?
The property is located at 218 E Baldwin Ave Spokane, WA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Triplex with updates to plumbing, electrical, roof, and siding; All units include laminate plank flooring, quartz countertops, and stainless steel appliances; Refreshed bathrooms feature updated showers, vanities, faucets, and fixtures
