Spokane 10-Unit Apartment
6511 N Atlantic St Spokane, WA 99208
6511 N Atlantic St, Spokane, WA, 99208
$1,790,000
For Sale
$1,790,000
MULTI_FAMILY - Spokane, WA
Property Size7,950 SF
Lot Size0.44 Acres
Price / SF$225.16
Days on Market46
Property Features for 6511 N Atlantic St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- HDR
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1
- Parking
- 14
- Parking features
- Carport
- Window features
- Vinyl Frames
- Appliances
- Free-Standing Range, Dishwasher, Refrigerator
- Standard status
- Active
- APN
- 36304.1818
- Size
- 7,950 SF
- Lot size
- 0.44 Acres
Taxes and HOA fees
- Tax Annual Amount
- 10200
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1964
- Floors in Building
- 2
- Number of units
- 10
- Building materials
- Brick
- Roof type
- Composition
Listing Agency
Kelly Right Real Estate of Spokane
(509) 489-7000
140 S ARTHUR ST STE 600, Spokane, WA
Listed by
Nick Grishko · License #95551
(509) 489-7000
Added: Jun 1 Checked: Jul 16 at 4:06 pm
MLS# 202618398
Listing URL
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,950 square foot, 10-unit apartment building is located near NorthTown Mall. Situated on a 0.44-acre lot, the two-level building features covered parking and a front yard with a sprinkler system. The property is located across the retail plaza of N Division and Francis, near city amenities. The building contains nine 750 square foot units with 2 bedrooms and 1 bathroom, and one 550 square foot unit with 1 bedroom and 1 bathroom. All ten units are currently leased out. The units include a spacious entry living room and a kitchen/dining room with ample white cabinetry, a free-standing range, dishwasher, and refrigerator. This property is zoned HDR.
Key Highlights
- 10‑unit apartment building with 7,950 sq ft on a 150' x 128' lot
- Unit mix: nine 750 sq ft 2 bed/1 bath units and one 550 sq ft 1 bed/1 bath unit
- All 10 units are leased out
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.6k | $19.32 |
| − Vacancy | −$9.8k | −$1.24 |
| EGI | $143.8k | $18.08 |
| − OpEx | −$64.7k | −$8.14 |
| NOI | $79.1k | $9.95 |
7,950 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$988.4K – $1.32M
NOI $79,070 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,577 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Turn-key 10-unit apartment building near NorthTown Mall.
Where is this apartment building located?
The property is located at 6511 N Atlantic St Spokane, WA.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: 10‑unit apartment building with 7,950 sq ft on a 150' x 128' lot; Unit mix: nine 750 sq ft 2 bed/1 bath units and one 550 sq ft 1 bed/1 bath unit; All 10 units are leased out
