Duplex with Two Updated
2407 E Columbia Ave Spokane, WA 99208
New
For Sale
$565,000
MULTI_FAMILY - Ranch - Spokane, WA
Property Size3,200 SF
Lot Size0.14 Acres
Price / SF$176.56
Days on Market2
Property Features for 2407 E Columbia Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- R!
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 5, Basement, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 6, Bedroom 2
- Parking
- 4
- Parking features
- Alley, Carport
- Window features
- Vinyl Frames
- Interior features
- Hot Water
- Basement
- Daylight, Finished, Full
- Appliances
- Indoor Grill, Dishwasher, Refrigerator, Microwave, Washer, Dryer, Hard Surface Counters
- Standard status
- Active
- APN
- 36331.1323
- Size
- 3,200 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4898
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1999
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Vinyl Siding
- Roof type
- Composition
- Architectural style
- Ranch
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Dana Pendergrass
(855) 450-0442
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 11:06PM
MLS# 202621463
Copyright © 2026 Spokane Association of REALTORS®. 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.
This duplex investment property at 2407 E Columbia Ave offers two units with a similar layout, each featuring 3 bedrooms and 2 bathrooms, along with upper and lower living levels. One unit (2409) has been remodeled, while the owner-occupied unit is approximately 60% updated, leaving room for a new buyer to complete improvements. The property also includes a carport and storage area for each unit, with alley access.
Zoned R!, the home is located in Spokane, WA 99208, within Spokane County. The total property size is approximately 3,200 square feet on a 0.1435-acre lot.
For buyers looking for rental income with a live-in option, the configuration supports flexible occupancy based on how the units are managed.
Zoned R!, the home is located in Spokane, WA 99208, within Spokane County. The total property size is approximately 3,200 square feet on a 0.1435-acre lot.
For buyers looking for rental income with a live-in option, the configuration supports flexible occupancy based on how the units are managed.
Key Highlights
- Duplex built in 1999 with a ranch style and vinyl siding
- Each unit offers 3 bedrooms and 2 bathrooms with upper and lower living levels
- Unit 2409 has been remodeled; the other unit is approximately 60% updated
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two 3-bedroom, 2-bath units, each with carport and storage, accessed from an alley.
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 built in 1999 with a ranch style and vinyl siding; Each unit offers 3 bedrooms and 2 bathrooms with upper and lower living levels; Unit 2409 has been remodeled; the other unit is approximately 60% updated
