Eight One-Bedroom Apartment
For Sale
$835,000
2626 N Hemlock St, Spokane, WA 99205
Apartment building featuring eight one-bedroom units, a separate common laundry room, and off-street parking.
Property Size3,360 SF
Days on Market96
Property Features for 2626 N Hemlock St
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multifamily
Site & Location
Neighborhood
Emerson/Garfield
Additional Details
Cap Rate
6.5%
Multifamily Units
8
Amenities
Off Street Parking
Separate Common Laundry Room
Building Details
Building Size
3,360 SF
Year Built
1958
Listing Agency:
Black Commercial, Inc.
Listed By:
Jim Orcutt
(509) 280-2037
Source:
Naiblack
Added: Jul 21
Changed: Oct 8
Last Checked: Oct 23 at 5:17AM
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 Black Commercial, Inc.
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,418
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$668,360
$668.4K
Cap Rate 7%
$477,400
$477.4K
Cap Rate 9%
$371,311
$371.3K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$64.9K $19.32/SF
− Vacancy
−$4.2K −$1.24/SF
EGI
$60.8K $18.08/SF
− OpEx
−$27.3K −$8.14/SF
NOI
$33.4K $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%
$668,360
Cap Rate 7%
$477,400
Cap Rate 9%
$371,311
Alternative Uses
Best Use
Apartment 5plus
$477.4K
$417.7K – $557.0K
NOI $33,418 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
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Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
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 - 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 $835,000.
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
