Renovated 7-Unit Apartment
3123-3125 E Carlisle Avenue Spokane, WA 99207
3123-3125 E Carlisle Avenue, Spokane, WA, 99207
Contact for pricing
For Sale
Contact for pricing
Fully renovated, 100% occupied 7-unit building with uniform two-bedroom, one-bath units designed for straightforward operations.
Property Size5,250 SF
Price / SF$186.67
Days on Market53
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 Agency
Paragon Group
Listed by
Peter Clark · License #25005584
Source
Crexi
Added: May 28 Checked: Jul 19 at 4:50 am
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
Investment Insights
Based on property information with market context.
3123-3125 E Carlisle Ave is a fully renovated, 7-unit apartment building with consistent unit configuration: two bedrooms and one bathroom across the property. The offering is described as 100% occupied, with updated interiors intended to support day-to-day stability. The uniform layout can simplify leasing, tenant turnover, and operational management for an owner seeking a smaller-scale multifamily asset.
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.
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.
Key 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
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 |
5,250 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$745.9K
$652.7K – $870.3K
NOI $52,216 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,815 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully renovated, 100% occupied 7-unit building with uniform two-bedroom, one-bath units designed for straightforward operations.
Where is this apartment building located?
The property is located at 3123-3125 E Carlisle Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 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
