3-Unit Victorian
New
For Sale
$425,000
2718 E 5th Ave, Spokane, WA 99202
Residential Income, Spokane, WA
Property Size3,000 SF
Lot Size0.16 Acres
Price / SF$141.67
Days on Market2
Property Features for 2718 E 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Laundry Room, Bathroom 1, Utility Room, Bedroom 5, Bedroom 3, Bedroom 2
Parking features
Alley, Offsite
Window features
Vinyl Frames
Interior features
High Speed Internet, Pantry, Kitchen Island, In-Law Floorplan
Basement
Partial
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
Lot features
Level, City Bus (w/in 6 blks), Fencing
Elementary school
Franklin
Middle school
Chase
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35211.4721
Size
3,000 SF
Lot size
0.16 Acres
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Ductless (Heating), Baseboard
Building Details
Year built
1907
Floors in Building
2
Number of units
3
Building materials
Wood Siding
Roof type
Composition
Architectural style
Victorian
Listing Agency:
REAL Broker LLC
(855) 450-0442
Listed By:
Spencer Millsap · License #3571545
(509) 688-5014
Added: Oct 6
Last Checked: Oct 7 at 5:06AM
MLS# 202625404
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 1907 Victorian triplex contains three apartments, each with two bedrooms and one bathroom, across 3,000 square feet. One unit has been updated, and the upstairs apartment is vacant. The property also includes a one-car garage at the rear and a 0.16-acre lot. A rental history is noted for the building.
The property is near Underhill Park in Spokane. Its three-unit configuration, separate apartments, and rear garage are among its documented features.
The property is near Underhill Park in Spokane. Its three-unit configuration, separate apartments, and rear garage are among its documented features.
Key Highlights
- Three apartments, each with 2 bedrooms and 1 bathroom
- 3,000 square feet of building area on a 0.16‑acre lot
- 1907 construction with Victorian architectural style
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom apartments include an updated unit and a vacant upstairs residence.
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 apartments, each with 2 bedrooms and 1 bathroom; 3,000 square feet of building area on a 0.16‑acre lot; 1907 construction with Victorian architectural style
