In-Unit Laundry
New
For Sale
$685,000
2327 E 29th Ave, Spokane, WA 99223
MULTI_FAMILY - Spokane, WA
Property Size3,516 SF
Lot Size0.21 Acres
Price / SF$194.82
Days on Market5
Property Features for 2327 E 29th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RMF
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1, Basement
Subdivision
Spokane
Lot features
Level
Directions
From I-90, take exit 283B south on Freya St to 29th Ave. Turn right (west) on 29th; property is on the right near Crestline St.
Standard status
Active
APN
35284.0184
Size
3,516 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DESSERT'S 5ACRE TRS LAVAGETTO'S SUB E62.25' OF LT 7 &W13.25' OF LT 8 BLK 3
Tax Annual Amount
6947
Legal Description
DESSERT'S 5ACRE TRS LAVAGETTO'S SUB E62.25' OF LT 7 &W13.25' OF LT 8 BLK 3
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1978
Number of units
4
Building materials
Vinyl Siding, Block, Frame
Roof type
Concrete
Architectural style
Other
Listing Agency:
SVN Cornerstone Commercial
(509) 321-2000
Listed By:
Jordan Lester · License #1271842
(509) 496-6922
Added: Jul 28
Changed: Aug 1
Last Checked: Aug 1 at 7:06PM
MLS# 26-7734
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.
Investment Insights
Based on property information with market context.
SVN Cornerstone presents the 29th Ave Fourplex for sale in Spokane’s Rockwood neighborhood. The property includes four residential units and numerous recent improvements. Updates include new LVP flooring in three units, updated kitchen cabinets in two units, and in-unit laundry in two units, along with enhanced landscaping.
The quadplex sits on a 0.21-acre lot with a total property size of 3,516 square feet. Constructed in 1978 with vinyl siding, block, and frame, the home is served by public water and public sewer and features electric heating. The roof is concrete, and the property includes a basement.
Leasing is structured with two month to month leases, creating the potential for owner-occupied financing with as little as 5% down, subject to providing proper notice and lender occupancy requirements.
The quadplex sits on a 0.21-acre lot with a total property size of 3,516 square feet. Constructed in 1978 with vinyl siding, block, and frame, the home is served by public water and public sewer and features electric heating. The roof is concrete, and the property includes a basement.
Leasing is structured with two month to month leases, creating the potential for owner-occupied financing with as little as 5% down, subject to providing proper notice and lender occupancy requirements.
Key Highlights
- Four residential units in RMF zoning
- 0.21‑acre lot
- 3,516 square feet
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 | $61.2k | $17.40 |
| − Vacancy | −$3.7k | −$1.06 |
| EGI | $57.5k | $16.34 |
| − OpEx | −$17.2k | −$4.90 |
| NOI | $40.2k | $11.44 |
3,516 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$574.6K
$502.8K – $670.4K
NOI $40,221 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$499.6K
$437.1K – $582.8K
NOI $34,970 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$907.1K
$793.7K – $1.06M
NOI $63,499 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 99223, WA
34,201
Population
15,252
Households
2.2
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
32.1 sq mi
ZIP Area
1,065
Density / Sq Mi
$91,377
Median Household Income
$53,132
Median Earnings
$1,221
Median Rent
$457,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex in RMF zoning with in-unit laundry in two units and multiple recent interior updates.
Where is this quadplex located?
The property is located at 2327 E 29th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Four residential units in RMF zoning; 0.21‑acre lot; 3,516 square feet
