Fourplex with Shared
2810 32nd, Spokane, WA 99223
For Sale
$515,000
Pending
All four apartments are occupied, with three one-bedroom layouts and one two-bedroom layout.
Property Size2,688 SF
Days on Market15
Property Features for 2810 32nd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
shared laundry facility
dedicated storage
Garage: Off Site, Shared Driveway
Garage Spaces: 0
Style: Other
Other
Off Site, Shared Driveway
Building Details
Year Built
Listing Agency:
Keller Williams Spokane - Main
Listed By:
Erica Meyer
(509) 458-4000
Source:
Clearwaterproperties
Added: Oct 30
Changed: Nov 12
Last Checked: Nov 12 at 4:20AM
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 Keller Williams Spokane - Main
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Investment Insights
Based on property information with market context.
This 2,688-square-foot fourplex contains three one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. All four units are occupied. Residents have access to a shared laundry facility, five off-street parking spaces, and individual storage areas. Laundry operations provide additional income, and tenant occupancy extends as long as 18 years.
At 2810 E 32nd Ave in Spokane, the property is near the 29th and Regal area, Lincoln Heights Village, Trader Joe’s, dining, retail, and public transit. The same ownership has held the property for 49 years.
At 2810 E 32nd Ave in Spokane, the property is near the 29th and Regal area, Lincoln Heights Village, Trader Joe’s, dining, retail, and public transit. The same ownership has held the property for 49 years.
Key Highlights
- Four apartments: three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- 2,688 square feet
- Five off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,749
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,980
$615.0K
Cap Rate 7%
$439,271
$439.3K
Cap Rate 9%
$341,656
$341.7K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$46.8K $17.40/SF
− Vacancy
−$2.8K −$1.06/SF
EGI
$43.9K $16.34/SF
− OpEx
−$13.2K −$4.90/SF
NOI
$30.7K $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%
$614,980
Cap Rate 7%
$439,271
Cap Rate 9%
$341,656
Alternative Uses
Best Use
Multifamily LT 5
$439.3K
$384.4K – $512.5K
NOI $30,749 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$381.9K
$334.2K – $445.6K
NOI $26,735 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$693.5K
$606.8K – $809.1K
NOI $48,545 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 99223, WA
34,201
Population
15,252
Households
2.2
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
32.1 sq mi
ZIP Area
1,065
Density / Sq Mi
$91,377
Median Household Income
$53,132
Median Earnings
$1,221
Median Rent
$457,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Quadplexes in Spokane, WA
Properties on Market for Quadplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are occupied, with three one-bedroom layouts and one two-bedroom layout.
Where is this quadplex located?
The property is located at 2810 32nd Spokane, WA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four apartments: three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit; 2,688 square feet; Five off‑street parking spaces
