6-Unit Townhouse Apartment
5524 Driscoll, Spokane, WA 99205
For Sale
$1,350,000
Each residence includes in-unit laundry, a full appliance package, and individual heating and central air.
Property Size6,600 SF
Price / SF$204.55
Days on Market15
Property Features for 5524 Driscoll
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
granite countertops
full appliance package
high efficiency gas furnace
central air
Garage: Off Site, None
Garage Spaces: 0
Off Site, None
Building Details
Year Built
Listing Agency:
Windermere North
Listed By:
Marie Pence · License WA #99810
(509) 230-8457
Source:
Clearwaterproperties
Added: Nov 1
Changed: Nov 14
Last Checked: Nov 14 at 5:23AM
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 Windermere North
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Investment Insights
Based on property information with market context.
Built in 2019, this six-unit apartment property is arranged as townhouses, with each residence offering 1,100 square feet, two bedrooms, and one-and-a-half baths. Granite countertops and a full appliance package, including a washer and dryer, are provided in every unit. Each home also has a high-efficiency gas furnace and central air conditioning.
The property includes an on-site parking area with space for eight vehicles, along with street parking.
The property includes an on-site parking area with space for eight vehicles, along with street parking.
Key Highlights
- Six townhouse units, each with 1,100 square feet
- Two bedrooms and 1.5 baths per unit
- Built in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,643
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,312,860
$1.3M
Cap Rate 7%
$937,757
$937.8K
Cap Rate 9%
$729,367
$729.4K
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$127.5K $19.32/SF
− Vacancy
−$8.2K −$1.24/SF
EGI
$119.4K $18.08/SF
− OpEx
−$53.7K −$8.14/SF
NOI
$65.6K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,312,860
Cap Rate 7%
$937,757
Cap Rate 9%
$729,367
Alternative Uses
Best Use
Apartment 5plus
$937.8K
$820.5K – $1.09M
NOI $65,643 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,196 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
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Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Spokane, WA
Properties on Market for Apartment buildings in Spokane
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence includes in-unit laundry, a full appliance package, and individual heating and central air.
Where is this apartment building located?
The property is located at 5524 Driscoll Spokane, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six townhouse units, each with 1,100 square feet; Two bedrooms and 1.5 baths per unit; Built in 2019
