3-Unit Loft-Style
3018 E Jackson Ave, Spokane, WA 99207
For Sale
$384,999
Each residence combines main-floor living space with a loft bedroom and its own patio and backyard area.
Property Size1,620 SF
Lot Size0.17 Acres
Price / SF$237.65
Days on Market178
Property Features for 3018 E Jackson Ave
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Realty One Group Eclipse
(509) 327-2238
Listed By:
Andrew Lipsker
(509) 954-3992
Source:
Ericksrealty
Added: May 16
Changed: Oct 29
Last Checked: Nov 8 at 3:10AM
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 Realty One Group Eclipse
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Investment Insights
Based on property information with market context.
Built in 1978, this triplex contains three occupied loft-style residences totaling 1,620 square feet. Each unit has main-floor living space, a kitchen, bathroom and laundry, with a loft bedroom and walk-in closet above. Private patio and backyard areas serve the individual units, while a grassy front yard is shared. The 7,500-square-foot lot also includes a carport, storage shed and additional off-street parking.
The property is one block from the Centennial Trail and the Spokane River, and a short drive from Gonzaga University and Spokane Community College. The residents signed new six-month leases in April and May.
The property is one block from the Centennial Trail and the Spokane River, and a short drive from Gonzaga University and Spokane Community College. The residents signed new six-month leases in April and May.
Key Highlights
- Three occupied units with loft bedrooms and walk‑in closets
- 1,620‑square‑foot building on a 7,500‑square‑foot lot
- Private patio and backyard area for each unit, plus shared front lawn
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,532
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,640
$370.6K
Cap Rate 7%
$264,743
$264.7K
Cap Rate 9%
$205,911
$205.9K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$28.2K $17.40/SF
− Vacancy
−$1.7K −$1.06/SF
EGI
$26.5K $16.34/SF
− OpEx
−$7.9K −$4.90/SF
NOI
$18.5K $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%
$370,640
Cap Rate 7%
$264,743
Cap Rate 9%
$205,911
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.7K – $308.9K
NOI $18,532 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,112 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$418.0K
$365.7K – $487.6K
NOI $29,257 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
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Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Spokane, WA
Properties on Market for Triplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence combines main-floor living space with a loft bedroom and its own patio and backyard area.
Where is this triplex located?
The property is located at 3018 E Jackson Ave Spokane, WA.
What is the asking price?
The asking price for this property is $384,999.
What are key features of this property?
This property features: Three occupied units with loft bedrooms and walk‑in closets; 1,620‑square‑foot building on a 7,500‑square‑foot lot; Private patio and backyard area for each unit, plus shared front lawn
