3123-3125 E Carlisle Avenue, Spokane, WA 99207
Fully renovated, 100% occupied 7-unit building with uniform two-bedroom, one-bath units designed for straightforward operations.
- Added:
- May 28, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 6 at 5:51 am
Property Features for 3123-3125 E Carlisle Avenue
General Information
- Standard status
- Active
- Size
- 5,250 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1979
Listing agent Peter Clark License #25005584
Listing office Paragon Group
Listing date May 28, 2026
Source Crexi
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 Paragon Group
HighLights
- Fully renovated 7‑unit multifamily building built in 1979
- 100% occupied with a uniform unit mix of 2 bedrooms and 1 bathroom in every unit
- Straightforward day‑to‑day operations with consistent floorplans across the property
- Updated interiors and stabilized occupancy
- Remaining upside through rent adjustments and utility reimbursement
Overview
The property is located in a tight residential pocket of east Spokane. The remarks indicate convenient access to nearby employment, education, transportation, and recreation drivers, with tenants benefiting from proximity to grocery stores, dining, parks, public transit, and major arterials. This location context is positioned as a supportive fit for everyday rental housing needs.
For buyers and investors, the combination of full occupancy and a repeatable two-bedroom floorplan can be appealing for those looking for a small-balance residential income property with a straightforward operating model. Tenants benefit from the practical 2-bedroom, 1-bath design, and owners benefit from the consistency of the unit mix when planning maintenance and property management.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.4k | $19.32 |
| − Vacancy | −$6.5k | −$1.24 |
| EGI | $94.9k | $18.08 |
| − OpEx | −$42.7k | −$8.14 |
| NOI | $52.2k | $9.95 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.3641368
- Latitude
- 47.6797309
