Triplex with
603 W Augusta Ave, Spokane, WA 99205
For Sale
$349,900
Three rental homes include two-bedroom residences and a separate studio, with laundry inside the house.
Property Size2,050 SF
Price / SF$170.68
Days on Market84
Property Features for 603 W Augusta Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
Building Details
Building Size
Year Built
Units
Listing Agency:
Redfin
(509) 260-8296
Listed By:
Lee Ferrari
(509) 688-4234
Source:
Ericksrealty
Added: Aug 18
Changed: Nov 7
Last Checked: Nov 8 at 8:46PM
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 Redfin
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Investment Insights
Based on property information with market context.
Built in 1902, this 2,050-square-foot triplex comprises a two-bedroom house and an attached duplex addition. The addition, which fronts Howard Street, contains a second two-bedroom unit and a studio. The house has in-unit laundry. Improvements include a replacement roof, new siding on the additional structure, updated flooring and a refrigerator in the studio, and a new hot water tank. Current leases are in place, and tenants pay their own electricity. Occupancy has remained consistent since 2021, with tenants renewing annually.
The property is directly across from North Central High School. The three-unit configuration includes a two-bedroom house, another two-bedroom residence, and a studio.
The property is directly across from North Central High School. The three-unit configuration includes a two-bedroom house, another two-bedroom residence, and a studio.
Key Highlights
- Three units: two two‑bedroom residences and one studio
- 2,050 square feet; built in 1902
- Attached duplex addition fronts Howard Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,451
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,020
$469.0K
Cap Rate 7%
$335,014
$335.0K
Cap Rate 9%
$260,567
$260.6K
Market Conditions
NOI Build-Up for 2,050 SF
Gross rent
$35.7K $17.40/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$33.5K $16.34/SF
− OpEx
−$10.1K −$4.90/SF
NOI
$23.5K $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%
$469,020
Cap Rate 7%
$335,014
Cap Rate 9%
$260,567
Alternative Uses
Best Use
Multifamily LT 5
$335.0K
$293.1K – $390.9K
NOI $23,451 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$291.3K
$254.9K – $339.8K
NOI $20,389 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$528.9K
$462.8K – $617.1K
NOI $37,023 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,505
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
$286,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 rental homes include two-bedroom residences and a separate studio, with laundry inside the house.
Where is this triplex located?
The property is located at 603 W Augusta Ave Spokane, WA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Three units: two two‑bedroom residences and one studio; 2,050 square feet; built in 1902; Attached duplex addition fronts Howard Street
