6-Unit Apartment
For Sale
$835,000
2808 E EVERETT Ave, Spokane, WA 99217
Updated vinyl windows, shared laundry, and assigned parking support day-to-day residential use.
Property Size3,888 SF
Price / SF$214.76
Days on Market35
Property Features for 2808 E EVERETT Ave
General Information
Standard status
Active
Size
3,888 SF
Total Parking Spaces
6
Property subtype
Residential Income
Site & Location
Neighborhood
Hillyard
Public Transit
Yes
Units
Unit Mix
5 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
6
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,052
Amenities
updated vinyl windows
assigned parking
fenced front yard
landscaping
on-site laundry
pet-friendly
off-street parking
Building Details
Building Size
3,888 SF
Year Built
1977
Stories
3
Units
6
Listing Agency:
Shaptown Professional Services Corp
Listed By:
Marc Shapori
(509) 999-2326
Source:
Ericksrealty
Added: Sep 20
Changed: Oct 23
Last Checked: Oct 23 at 3:13PM
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 Shaptown Professional Services Corp
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Investment Insights
Based on property information with market context.
This 3,888-square-foot apartment property contains six units: five with two bedrooms and one bathroom, plus one with a single bedroom and bathroom. Built in 1977, the building has updated vinyl windows and shared on-site laundry. Outdoor features include a fenced front yard, landscaping, a play area, and off-street parking with assigned spaces. Units are pet-friendly.
The property is at 2808 E Everett Ave in Spokane, near parks, schools, and public transportation.
The property is at 2808 E Everett Ave in Spokane, near parks, schools, and public transportation.
Key Highlights
- Six units: five 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 3,888 square feet; built in 1977
- Updated vinyl windows and shared on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,670
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,400
$773.4K
Cap Rate 7%
$552,429
$552.4K
Cap Rate 9%
$429,667
$429.7K
Market Conditions
NOI Build-Up for 3,888 SF
Gross rent
$75.1K $19.32/SF
− Vacancy
−$4.8K −$1.24/SF
EGI
$70.3K $18.08/SF
− OpEx
−$31.6K −$8.14/SF
NOI
$38.7K $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%
$773,400
Cap Rate 7%
$552,429
Cap Rate 9%
$429,667
Alternative Uses
Best Use
Apartment 5plus
$552.4K
$483.4K – $644.5K
NOI $38,670 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$877.7K – $1.17M
NOI $70,217 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 99217, WA
19,298
Population
8,166
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
51.4 sq mi
ZIP Area
375
Density / Sq Mi
$71,807
Median Household Income
$43,267
Median Earnings
$1,267
Median Rent
$329,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated vinyl windows, shared laundry, and assigned parking support day-to-day residential use.
Where is this apartment building located?
The property is located at 2808 E EVERETT Ave 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: Six units: five 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 3,888 square feet; built in 1977; Updated vinyl windows and shared on‑site laundry
