Duplex with
For Sale
$500,000
727 E Wabash Ave, Spokane, WA 99207
Each residence offers three bedrooms, two bathrooms, and additional living space.
Property Size4,030 SF
Price / SF$124.07
Days on Market100
Property Features for 727 E Wabash Ave
General Information
Standard status
Active
Size
4,030 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Nevada Heights
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Amenities
Smart Thermostat
Building Details
Building Size
4,030 SF
Year Built
1972
Units
2
Listing Agency:
Redfin
(509) 260-8296
Listed By:
Nathalie Batty
(509) 220-4118
Source:
Ericksrealty
Added: Jul 16
Changed: Oct 23
Last Checked: Oct 23 at 4:36PM
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.
This 4,030-square-foot duplex, built in 1972, contains two residences with three bedrooms, two bathrooms, and bonus living areas apiece. One unit has a shop; the other includes an attached two-car garage. The property is fully occupied and sits on a corner lot.
Updates include a roof installed in 2024, newer flooring and paint, and separate HVAC systems added in 2020. Electrical work completed in 2020 included AFCI/GFCI protection and tamper-resistant receptacles. Unit 729 also has updated bathroom plumbing and a Ring camera system.
Updates include a roof installed in 2024, newer flooring and paint, and separate HVAC systems added in 2020. Electrical work completed in 2020 included AFCI/GFCI protection and tamper-resistant receptacles. Unit 729 also has updated bathroom plumbing and a Ring camera system.
Key Highlights
- Two occupied units, each with 3 bedrooms, 2 bathrooms, and bonus living space
- 4,030 SF duplex built in 1972
- One unit includes a shop; the other has an attached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,082
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,640
$801.6K
Cap Rate 7%
$572,600
$572.6K
Cap Rate 9%
$445,356
$445.4K
Market Conditions
NOI Build-Up for 4,030 SF
Gross rent
$77.9K $19.32/SF
− Vacancy
−$5.0K −$1.24/SF
EGI
$72.9K $18.08/SF
− OpEx
−$32.8K −$8.14/SF
NOI
$40.1K $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%
$801,640
Cap Rate 7%
$572,600
Cap Rate 9%
$445,356
Alternative Uses
Best Use
Multifamily LT 5
$658.6K
$576.3K – $768.4K
NOI $46,101 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$572.6K
$501.0K – $668.0K
NOI $40,082 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$1.04M
$909.8K – $1.21M
NOI $72,782 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, two bathrooms, and additional living space.
Where is this duplex located?
The property is located at 727 E Wabash Ave Spokane, WA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two occupied units, each with 3 bedrooms, 2 bathrooms, and bonus living space; 4,030 SF duplex built in 1972; One unit includes a shop; the other has an attached 2‑car garage
