Victorian
For Sale
$389,900
312 E Baldwin Ave, Spokane, WA 99207
Three-unit residential property with individual storage areas and alley access in Spokane’s Gonzaga University District.
Property Size2,112 SF
Price / SF$184.61
Days on Market75
Property Features for 312 E Baldwin Ave
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
storage shed
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Realty One Group Eclipse
Listed By:
Eric Rogers
(509) 458-4000
Source:
Clemensregroup
Added: Aug 2
Changed: Sep 13
Last Checked: Oct 7 at 5:48PM
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
Investment Insights
Based on property information with market context.
This Victorian-style triplex contains three separate units within a 2,112-square-foot, 1 1/2-story home built in 1905. A storage shed provides designated space for each unit, adding practical support for residents and property operations. Alley access is also listed among the exterior features.
The property is situated in Spokane’s Gonzaga University District, with bus routes nearby and downtown Spokane a short distance away. Its central setting places the three-unit configuration within an established urban area while retaining the character of an early twentieth-century residence.
The property is situated in Spokane’s Gonzaga University District, with bus routes nearby and downtown Spokane a short distance away. Its central setting places the three-unit configuration within an established urban area while retaining the character of an early twentieth-century residence.
Key Highlights
- Three separate residential units in a 1 1/2‑story home
- 2,112 square feet; built in 1905
- Victorian architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,160
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,200
$483.2K
Cap Rate 7%
$345,143
$345.1K
Cap Rate 9%
$268,444
$268.4K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$36.7K $17.40/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$34.5K $16.34/SF
− OpEx
−$10.4K −$4.90/SF
NOI
$24.2K $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%
$483,200
Cap Rate 7%
$345,143
Cap Rate 9%
$268,444
Alternative Uses
Best Use
Multifamily LT 5
$345.1K
$302.0K – $402.7K
NOI $24,160 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$300.1K
$262.6K – $350.1K
NOI $21,006 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$544.9K
$476.8K – $635.7K
NOI $38,143 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,268
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with individual storage areas and alley access in Spokane’s Gonzaga University District.
Where is this triplex located?
The property is located at 312 E Baldwin Ave Spokane, WA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three separate residential units in a 1 1/2‑story home; 2,112 square feet; built in 1905; Victorian architectural style
