3-Unit Triplex with
New
For Sale
$425,000
2718 E 5th Ave, Spokane, WA 99202
Each residence has two bedrooms, one bathroom, and its own gas forced-air furnace.
Property Size3,000 SF
Price / SF$141.67
Days on Market6
Property Features for 2718 E 5th Ave
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$45,000
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Spencer Millsap · License #3571545
(509) 688-5014
Source:
Exprealty
Added: Oct 6
Changed: Oct 10
Last Checked: Oct 11 at 8:18AM
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 3,000-square-foot triplex contains three 2-bedroom, 1-bath apartments. One unit has been updated, and the upstairs apartment is currently vacant. Each residence has an individual gas forced-air furnace. A one-car garage is located behind the building.
The property is in Spokane near Underhill Park. Its three-unit layout includes a mix of updated and vacant space, with a separate furnace serving each apartment.
The property is in Spokane near Underhill Park. Its three-unit layout includes a mix of updated and vacant space, with a separate furnace serving each apartment.
Key Highlights
- Three 2‑bedroom, 1‑bath units
- 3,000 square feet
- Individual gas forced‑air furnace in each unit
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.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
511
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has two bedrooms, one bathroom, and its own gas forced-air furnace.
Where is this triplex located?
The property is located at 2718 E 5th Ave 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 2‑bedroom, 1‑bath units; 3,000 square feet; Individual gas forced‑air furnace in each unit
