Three-Unit Triplex with
For Sale
$425,000
2718 5th, Spokane, WA 99202
The upstairs residence is vacant, and each apartment has its own gas forced-air furnace.
Property Size3,000 SF
Price / SF$141.67
Days on Market9
Property Features for 2718 5th
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
1
Property subtype
Multi Family Home
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$45,000
Amenities
Garage: Detached, Off Site, Alley Access
Garage Spaces: 1
Style: Victorian
Victorian
Detached, Off Site, Alley Access
1
Building Details
Year Built
1907
Listing Agency:
REAL Broker LLC
Listed By:
Spencer Millsap · License #3571545
(509) 688-5014
Source:
Clearwaterproperties
Added: Oct 7
Changed: Oct 15
Last Checked: Oct 14 at 10:06PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1907 triplex contains three apartments, each with two bedrooms and one bathroom. The upper unit is vacant, while one apartment has been updated. Individual gas forced-air furnaces serve the units, and a one-car garage is located at the rear with alley access.
The property is near Underhill Park in Spokane, Washington. It has a history of rental use.
The property is near Underhill Park in Spokane, Washington. It has a history of rental use.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom
- 1907 construction
- One unit has been updated; the upstairs unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,318
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,360
$686.4K
Cap Rate 7%
$490,257
$490.3K
Cap Rate 9%
$381,311
$381.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$52.2K $17.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$49.0K $16.34/SF
− OpEx
−$14.7K −$4.90/SF
NOI
$34.3K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,360
Cap Rate 7%
$490,257
Cap Rate 9%
$381,311
Alternative Uses
Best Use
Multifamily LT 5
$490.3K
$429.0K – $572.0K
NOI $34,318 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$426.3K
$373.0K – $497.3K
NOI $29,838 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$774.0K
$677.3K – $903.0K
NOI $54,180 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - The upstairs residence is vacant, and each apartment has its own gas forced-air furnace.
Where is this triplex located?
The property is located at 2718 5th Spokane, WA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three apartments, each with 2 bedrooms and 1 bathroom; 1907 construction; One unit has been updated; the upstairs unit is vacant
