Fourplex with Shared
New
For Sale
$515,000
2810 E 32nd Ave, Spokane, WA 99223
Residential Income, Spokane, WA
Property Size2,688 SF
Lot Size0.19 Acres
Price / SF$191.59
Days on Market2
Property Features for 2810 E 32nd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking
5
Parking features
Driveway, Offsite
Interior features
High Speed Internet, Pantry
Appliances
Free-Standing Range, Refrigerator, Disposal
Lot features
Sprinkler - Automatic, Treed, Level
View
City
Elementary school
Adams Elementary
Middle school
Peperzak Middle School
High school
Ferris
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35331.0413
Size
2,688 SF
Lot size
0.19 Acres
Additional Details
Tenant in Place
Yes
Utilities
Heating system
Ductless (Heating), Electric (Heating)
Amenities
shared laundry facility
dedicated storage
Building Details
Year built
1975
Floors in Building
2
Number of units
4
Building materials
Brick, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Spokane - Main · Keller Williams Realty
Listed By:
Erica Meyer
(509) 458-4000
Added: Oct 27
Last Checked: Oct 28 at 12:06AM
MLS# 202626297
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.
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Investment Insights
Based on property information with market context.
This 2,688-square-foot fourplex contains four apartments: three with one bedroom and one bathroom, plus a two-bedroom, one-bathroom unit. The property sits on a 0.1882-acre lot and was built in 1975. Brick and wood siding, electric and ductless heating, and a composition roof are among its building features. Dedicated storage is provided for each apartment, and residents share a laundry facility. The property is fully occupied, with some tenancies extending to 18 years; ownership has held it for 49 years.
Five off-street parking spaces serve the property. The location is near Lincoln Heights Village, Trader Joe’s, dining, shopping, and public transit, and is just off 29th and Regal.
Five off-street parking spaces serve the property. The location is near Lincoln Heights Village, Trader Joe’s, dining, shopping, and public transit, and is just off 29th and Regal.
Key Highlights
- Four apartments: three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1‑bath unit
- 2,688 square feet on a 0.1882‑acre lot
- 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
Multi-tenant
Tenancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The residential mix includes three one-bedroom apartments and one two-bedroom apartment.
Where is this quadplex located?
The property is located at 2810 E 32nd Ave 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 on a 0.1882‑acre lot; Five off‑street parking spaces
