Triplex with Covered
For Sale
$455,000
3112 E 29th Ave, Spokane, WA 99223
Residential Income, Spokane, WA
Property Size3,486 SF
Lot Size0.14 Acres
Price / SF$130.52
Days on Market46
Property Features for 3112 E 29th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 1
Parking
3779
Parking features
Carport, Offsite, Alley
Window features
Aluminum Frames
Patio and Porch features
Deck
Basement
Partial, Finished
Appliances
Free-Standing Range, Dishwasher, Refrigerator
Lot features
Fenced Yard
Elementary school
Adams
Middle school
Peperzak
High school
Ferris
Elementary school district
Spokane Dist 81
Directions
From I-90 go south on S Thor, which turns into S Ray, turn right onto E 27th, then left onto S Fiske. The property is on e 29th, but drive past 29th and turn left into the alley to access the building from the rear.
Standard status
Active
APN
35342.0303
Size
3,486 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
5513
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Amenities
laundry hookups
private storage locker
fenced yard
Building Details
Year built
1973
Floors in Building
2
Number of units
3
Building materials
Masonite
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
John L Scott, Inc.
Listed By:
David Jones
(509) 455-8600
Added: Sep 8
Changed: Oct 16
Last Checked: Oct 23 at 10:06PM
MLS# 202623907
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 contemporary triplex contains 3,486 square feet on a 0.14-acre lot. Built in 1973, the property includes three two-bedroom, one-bathroom units, with dedicated laundry hookups for each residence. One unit features refreshed kitchen cabinetry and quartz countertops, while other improvements include exterior paint, updated light fixtures, and landscaping. Covered carport parking, additional off-street parking, private storage lockers, a fenced yard, and a deck add practical amenities. Appliances include free-standing ranges, dishwashers, and refrigerators. Heating is provided by electric baseboard systems, with wall-unit cooling.
The property is located at 3112 E 29th Ave in Spokane, near Lincoln Heights Village and Trader Joe’s. Shopping, restaurants, and public transportation are located nearby. The site also benefits from alley access and a composition roof.
The property is located at 3112 E 29th Ave in Spokane, near Lincoln Heights Village and Trader Joe’s. Shopping, restaurants, and public transportation are located nearby. The site also benefits from alley access and a composition roof.
Key Highlights
- Triplex with 3,486 square feet on a 0.14‑acre lot
- Three units, each with 2 bedrooms and 1 bathroom
- One unit updated with kitchen cabinets and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,878
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$797,560
$797.6K
Cap Rate 7%
$569,686
$569.7K
Cap Rate 9%
$443,089
$443.1K
Market Conditions
NOI Build-Up for 3,486 SF
Gross rent
$60.7K $17.40/SF
− Vacancy
−$3.7K −$1.06/SF
EGI
$57.0K $16.34/SF
− OpEx
−$17.1K −$4.90/SF
NOI
$39.9K $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%
$797,560
Cap Rate 7%
$569,686
Cap Rate 9%
$443,089
Alternative Uses
Best Use
Multifamily LT 5
$569.7K
$498.5K – $664.6K
NOI $39,878 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$495.3K
$433.4K – $577.9K
NOI $34,672 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$899.4K
$787.0K – $1.05M
NOI $62,957 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
591
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?
Triplex - Three two-bedroom units with laundry hookups, storage lockers, a fenced yard, and covered carport parking.
Where is this triplex located?
The property is located at 3112 E 29th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Triplex with 3,486 square feet on a 0.14‑acre lot; Three units, each with 2 bedrooms and 1 bathroom; One unit updated with kitchen cabinets and quartz countertops
