14-Unit Brick Apartment
New
For Sale
$1,350,000
220 S Elm St, Spokane, WA 99201
MultiFamily, Multi Level, Spokane, WA
Property Size5,320 SF
Lot Size0.22 Acres
Price / SF$253.76
Days on Market2
Property Features for 220 S Elm St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RHD
Full bathrooms
14
Rooms
Bathroom 3, Bathroom 2, Bathroom 7, Bathroom 1, Bathroom 8, Bathroom 6, Bathroom 9, Bathroom 4, Bathroom 13, Bathroom 14, Bathroom 5, Bathroom 12, Bathroom 11, Bathroom 10
Lot features
Level
View
City
Directions
GPS is accurate
Subdivision
Washington Counties
Standard status
Active
APN
25241.2112
Size
5,320 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See Attached exhibit A
Tax Annual Amount
12147
Legal Description
See Attached exhibit A
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1953
Number of units
14
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
LT Real Estate
Listed By:
Ryan Towner · License #24027253
(509) 481-0373
Added: Oct 27
Last Checked: Oct 28 at 3:06PM
MLS# 26-10530
Copyright © 2026 Coeur d'Alene Multiple Listing Service. 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.
This 14-unit apartment property contains studio residences within 5,320 square feet on a 0.22-acre parcel. Built in 1953, the building has a brick exterior, vinyl windows, and a composition roof. Heating is provided by a forced-air natural-gas system, with public water and sewer service. The units have been updated, and the property is zoned RHD.
At 220 S Elm St in Spokane, the property is in the Historic Browne's District and near restaurants and shopping. Its studio configuration and building improvements define the asset, with the unit updates and established building materials adding useful physical detail.
At 220 S Elm St in Spokane, the property is in the Historic Browne's District and near restaurants and shopping. Its studio configuration and building improvements define the asset, with the unit updates and established building materials adding useful physical detail.
Key Highlights
- 14 studio units
- 5,320 square feet on a 0.22‑acre lot
- Located in the Historic Browne's District, near restaurants and shopping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,912
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,058,240
$1.1M
Cap Rate 7%
$755,886
$755.9K
Cap Rate 9%
$587,911
$587.9K
Market Conditions
NOI Build-Up for 5,320 SF
Gross rent
$102.8K $19.32/SF
− Vacancy
−$6.6K −$1.24/SF
EGI
$96.2K $18.08/SF
− OpEx
−$43.3K −$8.14/SF
NOI
$52.9K $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%
$1,058,240
Cap Rate 7%
$755,886
Cap Rate 9%
$587,911
Alternative Uses
Best Use
Apartment 5plus
$755.9K
$661.4K – $881.9K
NOI $52,912 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,079 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
1,224
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated studio residences include vinyl windows and forced-air, natural-gas heating.
Where is this apartment building located?
The property is located at 220 S Elm St Spokane, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 14 studio units; 5,320 square feet on a 0.22‑acre lot; Located in the Historic Browne's District, near restaurants and shopping
