Eight One-Bedroom Apartment
2626 N Hemlock St Spokane, WA 99205
2626 N Hemlock St, Spokane, WA, 99205
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For Sale
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Apartment building featuring eight one-bedroom units, a separate common laundry room, and off-street parking.
Property Size3,360 SF
Price / SF$263.39
Days on Market113
Property Features for 2626 N Hemlock St
General Information
- Standard status
- Active
- Size
- 3,360 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1958
Listing agency
NAI Black
Listed by
Jim Orcutt · License #WA ORCUTJA385Q
Source
Crexi
Added: Apr 1 Updated: Jul 22 at 10:12AM Checked: Jul 22 at 10:12AM
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 NAI Black
Investment Insights
Based on property information with market context.
This apartment building offers eight one-bedroom units within a 1958-built structure. The property includes a separate common laundry room and off-street parking for residents.
Located in the Audubon Park area near Northwest Blvd services, with coffee shops, restaurants, and Audubon Park in the surrounding area.
Public remarks indicate an approximate ±6.5% cap rate and NOI around ±$57,500; contact the listing agent for financial information. The owner is a licensed real estate broker in Washington.
Located in the Audubon Park area near Northwest Blvd services, with coffee shops, restaurants, and Audubon Park in the surrounding area.
Public remarks indicate an approximate ±6.5% cap rate and NOI around ±$57,500; contact the listing agent for financial information. The owner is a licensed real estate broker in Washington.
Key Highlights
- Apartment building with eight 1‑bedroom units
- Separate common laundry room
- Off‑street parking available
Local Financial Insights For Apartment 5plus
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 | $64.9k | $19.32 |
| − Vacancy | −$4.2k | −$1.24 |
| EGI | $60.8k | $18.08 |
| − OpEx | −$27.3k | −$8.14 |
| NOI | $33.4k | $9.95 |
3,360 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$477.4K
$417.7K – $557.0K
NOI $33,418 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Apartment building featuring eight one-bedroom units, a separate common laundry room, and off-street parking.
Where is this apartment building located?
The property is located at 2626 N Hemlock St Spokane, WA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Apartment building with eight 1‑bedroom units; Separate common laundry room; Off‑street parking available
