20-Unit Apartment
6119-6123 N Colton St, Spokane, WA 99208
For Sale
$2,000,000
Residents have access to off-street parking, shared laundry facilities, and storage.
Property Size12,800 SF
Price / SF$156.25
Days on Market107
Property Features for 6119-6123 N Colton St
General Information
Standard status
Size
Property subtype
Net Operating Income
Financials
Cap Rate
Gross Income
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
off-street parking
on-site laundry facility
storage
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
LT Real Estate
(509) 315-8720
Listed By:
Ryan Towner · License WA #24027253
(509) 481-0373
Source:
Ericksrealty
Added: Jul 31
Changed: Nov 7
Last Checked: Nov 13 at 9:25PM
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 LT Real Estate
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 20-unit apartment property contains one-bedroom, one-bath residences. LVP flooring is installed in the units, and the property includes an on-site laundry facility, storage, and off-street parking. The building was constructed in 1965 and contains 12,800 square feet.
The property is located at 6119-6123 N Colton St in Spokane, Washington.
The property is located at 6119-6123 N Colton St in Spokane, Washington.
Key Highlights
- 20 one‑bedroom, one‑bath units
- 12,800‑square‑foot building constructed in 1965
- LVP flooring in units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,308
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,546,160
$2.5M
Cap Rate 7%
$1,818,686
$1.8M
Cap Rate 9%
$1,414,533
$1.4M
Market Conditions
NOI Build-Up for 12,800 SF
Gross rent
$247.3K $19.32/SF
− Vacancy
−$15.8K −$1.24/SF
EGI
$231.5K $18.08/SF
− OpEx
−$104.2K −$8.14/SF
NOI
$127.3K $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%
$2,546,160
Cap Rate 7%
$1,818,686
Cap Rate 9%
$1,414,533
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,308 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,168 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
1,332
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
$414,000
Median Home Value
Market
Average Price Trend$/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 - Residents have access to off-street parking, shared laundry facilities, and storage.
Where is this apartment building located?
The property is located at 6119-6123 N Colton St Spokane, WA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 20 one‑bedroom, one‑bath units; 12,800‑square‑foot building constructed in 1965; LVP flooring in units
