South Hill Multifamily
720 S JEFFERSON ST Spokane, WA 99204
720 S JEFFERSON ST, Spokane, WA, 99204
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For Sale
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Portfolio includes 19 apartments across three buildings on two parcels, with on-site laundry and 13 garages for extra income.
Property Size17,907 SF
Price / SF$111.69
Days on Market56
Property Features for 720 S JEFFERSON ST
General Information
- Standard status
- Active
- Size
- 17,907 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1907
Listing agency
LT Real Estate
(509) 315-8720
Listed by
Dallas Lightner · License #26840
Source
Crexi
Added: May 29 Updated: Jul 22 at 5:11PM Checked: Jul 22 at 5:11PM
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
Investment Insights
Based on property information with market context.
This South Hill multifamily portfolio consists of 19 units across three buildings on two parcels. The unit mix includes seven 1-bedroom units, ten 2-bedroom units, and two 3-bedroom units. Tenant amenities include on-site laundry, and the portfolio also includes 13 garages that contribute additional income. Many units have been updated, supporting continued tenant appeal.
The properties are located in Spokane’s South Hill neighborhood and are described as being within walking distance of neighborhood amenities, parks, restaurants, and shopping. Access to downtown Spokane and I-90 is also noted in the remarks.
As offered, the portfolio provides a diversified residential mix paired with supplemental garage income within a multifamily configuration spanning multiple buildings on two parcels.
The properties are located in Spokane’s South Hill neighborhood and are described as being within walking distance of neighborhood amenities, parks, restaurants, and shopping. Access to downtown Spokane and I-90 is also noted in the remarks.
As offered, the portfolio provides a diversified residential mix paired with supplemental garage income within a multifamily configuration spanning multiple buildings on two parcels.
Key Highlights
- South Hill multifamily portfolio with 19 units across three buildings on two parcels
- Unit mix: seven 1‑bedroom, ten 2‑bedroom, and two 3‑bedroom units
- Additional income from 13 garages on‑site
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 | $346.0k | $19.32 |
| − Vacancy | −$22.1k | −$1.24 |
| EGI | $323.8k | $18.08 |
| − OpEx | −$145.7k | −$8.14 |
| NOI | $178.1k | $9.95 |
17,907 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.23M – $2.97M
NOI $178,102 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,400 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Portfolio includes 19 apartments across three buildings on two parcels, with on-site laundry and 13 garages for extra income.
Where is this apartment building located?
The property is located at 720 S JEFFERSON 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: South Hill multifamily portfolio with 19 units across three buildings on two parcels; Unit mix: seven 1‑bedroom, ten 2‑bedroom, and two 3‑bedroom units; Additional income from 13 garages on‑site
