Triplex with Loft-Style
For Sale
$394,999
3018 E Jackson Ave, Spokane, WA 99207
Residential Income, Spokane, WA
Property Size1,620 SF
Lot Size0.17 Acres
Price / SF$243.83
Days on Market103
Property Features for 3018 E Jackson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Laundry Room, Bathroom 1, Bathroom 3, Utility Room, Bedroom 1, Bedroom 2
Parking features
Carport
Patio and Porch features
Patio
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
Lot features
Fenced Yard, Level
Elementary school
Logan
Middle school
Yasuhara
High school
North Central
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35102.3802
Size
1,620 SF
Lot size
0.17 Acres
Utilities
Heating system
Baseboard
Amenities
laundry
private back patio
backyard space
shared grassy front yard
carport
storage shed
Building Details
Year built
1978
Floors in Building
2
Number of units
3
Building materials
Siding
Roof type
Composition
Listing Agency:
Realty One Group Eclipse
(509) 327-2238
Listed By:
Andrew Lipsker
(509) 327-2238
Added: May 16
Changed: Aug 19
Last Checked: Aug 26 at 8:06AM
MLS# 202617587
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.
Investment Insights
Based on property information with market context.
This triplex offers three occupied, loft-style bedroom units. The layout includes main-floor living with kitchen, bathroom, and laundry/utility space, while the loft areas provide additional bedroom space with a walk-in closet. Each unit includes its own private back patio and backyard space, along with a shared grassy front yard. The property includes a carport, a storage shed, and additional off-street parking. Appliances include a free-standing range, dishwasher, refrigerator, washer, and dryer. Heating is baseboard, and the roof is composition. Built in 1978, the exterior features siding.
The property is located at 3018 E Jackson Ave in Spokane (99207). The site sits on a 0.1722-acre lot and is approximately one block from the Centennial Trail and the Spokane River.
Tenants have signed new six-month leases in April and May.
The property is located at 3018 E Jackson Ave in Spokane (99207). The site sits on a 0.1722-acre lot and is approximately one block from the Centennial Trail and the Spokane River.
Tenants have signed new six-month leases in April and May.
Key Highlights
- Three occupied loft‑style units with main‑floor living plus loft bedroom space
- Private back patio and backyard for each unit plus shared grassy front yard
- 0.1722‑acre lot with carport, storage shed, and additional off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,532
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 4.69%
Second Best
Apartment 5plus
$230.2K
$201.4K – $268.5K
NOI $16,112 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$418.0K
$365.7K – $487.6K
NOI $29,257 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied loft-style units with carport parking, patio space, and baseboard heat on a 0.1722-acre lot.
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 $394,999.
What are key features of this property?
This property features: Three occupied loft‑style units with main‑floor living plus loft bedroom space; Private back patio and backyard for each unit plus shared grassy front yard; 0.1722‑acre lot with carport, storage shed, and additional off‑street parking
