6-Unit Apartment
For Sale
$479,900
2214 W Northwest Blvd, Spokane, WA 99204
Fully occupied apartment property with single-level residences, on-site laundry, basement storage, and off-street parking.
Property Size2,832 SF
Price / SF$169.46
Days on Market89
Property Features for 2214 W Northwest Blvd
General Information
Standard status
Active
Size
2,832 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Amenities
on-site laundry
tenant storage
off-street parking
Building Details
Year Built
1939
Listing Agency:
Keller Williams Spokane - Main
Listed By:
Lenae Thornton
(509) 458-4000
Source:
Clemensregroup
Added: Jul 21
Changed: Oct 14
Last Checked: Oct 7 at 2:08PM
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 Keller Williams Spokane - Main
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Investment Insights
Based on property information with market context.
This six-unit apartment building was constructed in 1939 and is fully occupied. Each residence is arranged on one level and includes one bedroom and one bathroom, creating a consistent unit layout throughout the property. On-site laundry, basement storage for tenants, and off-street parking are also provided.
Located at 2214 W Northwest Blvd in Spokane, Washington, the property is positioned near shopping, dining, and everyday amenities. The established configuration and occupied status provide a straightforward multifamily asset with shared operational features already in place.
Located at 2214 W Northwest Blvd in Spokane, Washington, the property is positioned near shopping, dining, and everyday amenities. The established configuration and occupied status provide a straightforward multifamily asset with shared operational features already in place.
Key Highlights
- Six apartment units, each with 1 bedroom and 1 bathroom
- Fully occupied multifamily property
- Single‑level layouts throughout the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,167
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,340
$563.3K
Cap Rate 7%
$402,386
$402.4K
Cap Rate 9%
$312,967
$313.0K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$54.7K $19.32/SF
− Vacancy
−$3.5K −$1.24/SF
EGI
$51.2K $18.08/SF
− OpEx
−$23.0K −$8.14/SF
NOI
$28.2K $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%
$563,340
Cap Rate 7%
$402,386
Cap Rate 9%
$312,967
Alternative Uses
Best Use
Apartment 5plus
$402.4K
$352.1K – $469.5K
NOI $28,167 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.7K
$639.3K – $852.4K
NOI $51,146 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with single-level residences, on-site laundry, basement storage, and off-street parking.
Where is this apartment building located?
The property is located at 2214 W Northwest Blvd Spokane, WA.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Six apartment units, each with 1 bedroom and 1 bathroom; Fully occupied multifamily property; Single‑level layouts throughout the building
