3-Unit
New
For Sale
$499,000
6119-6123 Addison, Spokane, WA 99208
Each residence has its own washer and dryer, with carport parking at the rear.
Property Size2,440 SF
Price / SF$204.51
Days on Market2
Property Features for 6119-6123 Addison
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$41,400
Amenities
washer and dryer in unit
Garage: Carport
Garage Spaces: 0
Carport
Building Details
Year Built
1978
Listing Agency:
eXp Realty 4 Degrees
Listed By:
Brenda Tampien · License #120493
(509) 863-6091
Source:
Clearwaterproperties
Added: Oct 16
Last Checked: Oct 16 at 2:02PM
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 eXp Realty 4 Degrees
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3-unit property contains approximately 2,440 square feet across three 2-bedroom, 1-bath residences. Built in 1978, the triplex is fully occupied, and each unit includes its own washer and dryer. Carport parking is situated behind the building, and the landscaping has been refreshed.
Located at 6119–6123 Addison in Spokane, the property combines three occupied residences with dedicated off-street parking.
Located at 6119–6123 Addison in Spokane, the property combines three occupied residences with dedicated off-street parking.
Key Highlights
- All 3 units are currently occupied
- Three 2‑bedroom, 1‑bath residences
- Approximately 2,440 total square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,912
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$558,240
$558.2K
Cap Rate 7%
$398,743
$398.7K
Cap Rate 9%
$310,133
$310.1K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$42.5K $17.40/SF
− Vacancy
−$2.6K −$1.06/SF
EGI
$39.9K $16.34/SF
− OpEx
−$12.0K −$4.90/SF
NOI
$27.9K $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%
$558,240
Cap Rate 7%
$398,743
Cap Rate 9%
$310,133
Alternative Uses
Best Use
Multifamily LT 5
$398.7K
$348.9K – $465.2K
NOI $27,912 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$346.7K
$303.4K – $404.5K
NOI $24,268 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$629.5K
$550.8K – $734.4K
NOI $44,066 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 99208, WA
58,531
Population
24,273
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
95%
High-School Grad
48.7 sq mi
ZIP Area
1,202
Density / Sq Mi
$81,084
Median Household Income
$45,733
Median Earnings
$1,226
Median Rent
$414,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has its own washer and dryer, with carport parking at the rear.
Where is this triplex located?
The property is located at 6119-6123 Addison Spokane, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: All 3 units are currently occupied; Three 2‑bedroom, 1‑bath residences; Approximately 2,440 total square feet
