Remodeled Duplex with
2407 E Columbia Ave Spokane, WA 99208
New
For Sale
$565,000
Duplex with two 3-bedroom, 2-bath units, each with carport, storage, and alley access.
Property Size3,200 SF
Price / SF$176.56
Days on Market5
Property Features for 2407 E Columbia Ave
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family Home
Building Details
Year Built
1999
Listing Agency:
REAL Broker LLC
(509) 928-1991
Listed By:
Dana Pendergrass
Source:
Clearwaterproperties
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 29 at 3:39AM
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 REAL Broker LLC
Investment Insights
Based on property information with market context.
This duplex features two separate units, each offering 3 bedrooms and 2 bathrooms with upper and lower living levels. The 2409 unit has been remodeled, while the owner-occupied unit is approximately 60% updated, providing an opportunity for continued improvements. For each unit, there is a carport and a dedicated storage area, with alley access.
2407 E Columbia Ave is offered for sale in Spokane, WA 99208. The seller’s public remarks indicate an investor-oriented structure with the possibility for qualified buyers to assume an existing loan at 3.625% with lender approval, as stated in the remarks.
The property is configured as a true duplex for either owner-occupancy with rental income or renting both sides, supported by the independent unit layout and shared access via the alley.
2407 E Columbia Ave is offered for sale in Spokane, WA 99208. The seller’s public remarks indicate an investor-oriented structure with the possibility for qualified buyers to assume an existing loan at 3.625% with lender approval, as stated in the remarks.
The property is configured as a true duplex for either owner-occupancy with rental income or renting both sides, supported by the independent unit layout and shared access via the alley.
Key Highlights
- Duplex with two 3‑bedroom, 2‑bath units (2,409 is one unit) with upper and lower living levels
- Year built 1999 ranch duplex with carport and storage area for each unit
- Alley access for each unit
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 | $55.7k | $17.40 |
| − Vacancy | −$3.4k | −$1.06 |
| EGI | $52.3k | $16.34 |
| − OpEx | −$15.7k | −$4.90 |
| NOI | $36.6k | $11.44 |
3,200 SF · lease $17.40/SF/yr · vacancy 6.08% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$522.9K
$457.6K – $610.1K
NOI $36,606 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$454.7K
$397.8K – $530.5K
NOI $31,827 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$825.6K
$722.4K – $963.2K
NOI $57,792 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two 3-bedroom, 2-bath units, each with carport, storage, and alley access.
Where is this duplex located?
The property is located at 2407 E Columbia Ave Spokane, WA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 2‑bath units (2,409 is one unit) with upper and lower living levels; Year built 1999 ranch duplex with carport and storage area for each unit; Alley access for each unit
