Four-Unit
For Sale
$549,000
2903 E JACKSON Ave, Spokane, WA 99037
Residential Income, Spokane, WA
Property Size3,200 SF
Lot Size0.17 Acres
Price / SF$171.56
Days on Market100
Property Features for 2903 E JACKSON Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 7, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 8
Parking features
Driveway, Offsite
Interior features
High Speed Internet
Fireplace
1
Appliances
Free-Standing Range, Refrigerator, Hard Surface Counters
Lot features
Level
View
Territorial, Water
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35102.3602
Size
3,200 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3749
Utilities
Utilities
Cable Available
Heating system
Electric (Heating)
Building Details
Year built
1977
Floors in Building
1
Number of units
4
Flooring type
Wood
Building materials
Brick, Masonite
Roof type
Composition
Architectural style
Ranch
Additional Structures
Workshop
Listing Agency:
First Look Real Estate
Listed By:
Becky Lease
(509) 928-3413
Added: Jul 14
Changed: Oct 16
Last Checked: Oct 21 at 7:06PM
MLS# 202620879
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 four-unit quadplex contains approximately 3,200 square feet across four apartments, each with two bedrooms, one bathroom, and approximately 800 square feet. Built in 1977, the property has brick and Masonite construction, wood flooring, electric heat, and a driveway. The units are zoned R.
The property is near Spokane Community College and downtown Spokane, with the Centennial Trail and Spokane River one block away. Dining, shopping, and entertainment are also identified in the surrounding area.
The property is near Spokane Community College and downtown Spokane, with the Centennial Trail and Spokane River one block away. Dining, shopping, and entertainment are also identified in the surrounding area.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Approximately 800 square feet per unit; 3,200 square feet total
- 0.1722‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,606
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,120
$732.1K
Cap Rate 7%
$522,943
$522.9K
Cap Rate 9%
$406,733
$406.7K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$55.7K $17.40/SF
− Vacancy
−$3.4K −$1.06/SF
EGI
$52.3K $16.34/SF
− OpEx
−$15.7K −$4.90/SF
NOI
$36.6K $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%
$732,120
Cap Rate 7%
$522,943
Cap Rate 9%
$406,733
Alternative Uses
Best Use
Multifamily LT 5
$522.9K
$457.6K – $610.1K
NOI $36,606 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$454.7K
$397.8K – $530.5K
NOI $31,827 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$825.6K
$722.4K – $963.2K
NOI $57,792 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 99037, WA
15,907
Population
6,189
Households
2.6
Avg Household Size
38
Median Age
30%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
2,525
Density / Sq Mi
$83,886
Median Household Income
$43,970
Median Earnings
$1,303
Median Rent
$446,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments offer a consistent unit mix near Spokane Community College and the Spokane River.
Where is this quadplex located?
The property is located at 2903 E JACKSON Ave Spokane, WA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; Approximately 800 square feet per unit; 3,200 square feet total; 0.1722‑acre parcel
