20-Unit Apartment
29 6TH, Spokane, WA 99202
For Sale
New
$2,700,000
The residences feature granite countertops, stainless-steel appliances, and on-site laundry facilities.
Property Size13,048 SF
Lot Size0.46 Acres
Price / SF$206.93
Days on Market7
Property Features for 29 6TH
General Information
Standard status
Size
Lot size
Property subtype
Net Operating Income
Financials
Cap Rate
Gross Income
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
granite countertops
stainless-steel appliances
LVP flooring
covered parking
on-site laundry facilities
Garage: Carport, Off Site
Garage Spaces: 0
Carport, Off Site
Building Details
Year Built
Listing Agency:
LT Real Estate
Listed By:
Dallas Lightner · License #26840
(509) 315-8720
Source:
Clearwaterproperties
Added: Nov 1
Changed: Nov 7
Last Checked: Nov 7 at 1:58PM
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 LT Real Estate
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Investment Insights
Based on property information with market context.
This 20-unit apartment property was built in 1978 and contains 13,048 square feet on approximately 0.46 acres. Its unit mix includes 18 two-bedroom, one-bathroom apartments and two one-bedroom, one-bathroom apartments. Interior features include granite countertops, stainless-steel appliances, and LVP flooring, with laundry facilities on site.
The property is near Downtown Spokane and the Medical District, with parks and retail centers also nearby. Its location provides access to both downtown and the medical district.
The property is near Downtown Spokane and the Medical District, with parks and retail centers also nearby. Its location provides access to both downtown and the medical district.
Key Highlights
- 20 apartments: 18 two‑bedroom/one‑bathroom units and 2 one‑bedroom/one‑bathroom units
- 13,048‑square‑foot property on approximately 0.46 acres
- Built in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,775
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,595,500
$2.6M
Cap Rate 7%
$1,853,929
$1.9M
Cap Rate 9%
$1,441,944
$1.4M
Market Conditions
NOI Build-Up for 13,048 SF
Gross rent
$252.1K $19.32/SF
− Vacancy
−$16.1K −$1.24/SF
EGI
$236.0K $18.08/SF
− OpEx
−$106.2K −$8.14/SF
NOI
$129.8K $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%
$2,595,500
Cap Rate 7%
$1,853,929
Cap Rate 9%
$1,441,944
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,775 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.37M
$2.95M – $3.93M
NOI $235,647 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
6,404
Businesses Nearby
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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
$268,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Spokane, WA
Properties on Market for Apartment buildings in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The residences feature granite countertops, stainless-steel appliances, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 29 6TH Spokane, WA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 20 apartments: 18 two‑bedroom/one‑bathroom units and 2 one‑bedroom/one‑bathroom units; 13,048‑square‑foot property on approximately 0.46 acres; Built in 1978
