Three-Level Triplex with
518 S Maple St, Spokane, WA 99204
For Sale
$595,000
Three units have separate internal entry points, with kitchens and living areas throughout.
Property Size4,125 SF
Price / SF$144.24
Days on Market11
Property Features for 518 S Maple St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Amenities
fenced courtyard
Building Details
Year Built
Stories
Listing Agency:
Kelly Right Real Estate of Spokane
(509) 489-7000
Listed By:
Laura Barry
(253) 320-1006
Source:
Exprealty
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 6 at 11:48AM
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 Kelly Right Real Estate of Spokane
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Investment Insights
Based on property information with market context.
Originally constructed in 1911 as a bank, this 4,125-square-foot property now contains three residential units across three levels. The basement unit has two nonconforming bedrooms, one bathroom, a kitchen, and a living area. The main-floor unit includes two bedrooms, one and a half bathrooms, a kitchen, and a living area. Upstairs, the third unit has three bedrooms and one and three-quarter bathrooms, including a primary suite with a gas fireplace and private balcony. Each unit has its own internal entry point, and a fenced courtyard provides outdoor space.
The property is near the Maple Street exit from I-90. It was most recently operated as an Airbnb.
The property is near the Maple Street exit from I-90. It was most recently operated as an Airbnb.
Key Highlights
- Three‑level triplex with 4,125 square feet
- Built in 1911 as a bank
- Basement unit: 2 nonconforming bedrooms, 1 bathroom, kitchen, and living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,188
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$943,760
$943.8K
Cap Rate 7%
$674,114
$674.1K
Cap Rate 9%
$524,311
$524.3K
Market Conditions
NOI Build-Up for 4,125 SF
Gross rent
$71.8K $17.40/SF
− Vacancy
−$4.4K −$1.06/SF
EGI
$67.4K $16.34/SF
− OpEx
−$20.2K −$4.90/SF
NOI
$47.2K $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%
$943,760
Cap Rate 7%
$674,114
Cap Rate 9%
$524,311
Alternative Uses
Best Use
Multifamily LT 5
$674.1K
$589.9K – $786.5K
NOI $47,188 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$586.1K
$512.8K – $683.8K
NOI $41,027 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.06M
$931.2K – $1.24M
NOI $74,498 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Spokane, WA
Properties on Market for Triplexes in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three units have separate internal entry points, with kitchens and living areas throughout.
Where is this triplex located?
The property is located at 518 S Maple St Spokane, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Three‑level triplex with 4,125 square feet; Built in 1911 as a bank; Basement unit: 2 nonconforming bedrooms, 1 bathroom, kitchen, and living area
