Fully Occupied Fourplex with
New
For Sale
$549,899
7314 E 7th Ave, Spokane Valley, WA 99212
Four residential units feature two-bedroom layouts, private laundry, and off-street parking.
Property Size2,984 SF
Price / SF$184.28
Days on Market1
Property Features for 7314 E 7th Ave
General Information
Standard status
Active
Size
2,984 SF
Property subtype
Multi-Family
Building Details
Year Built
1942
Listing Agency:
Keller Williams Spokane - Main
Listed By:
Lenae Thornton
(509) 458-4000
Source:
Clemensregroup
Added: Sep 14
Last Checked: Sep 14 at 2:43PM
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 Keller Williams Spokane - Main
Investment Insights
Based on property information with market context.
This 2,984-square-foot fourplex, built in 1942, comprises two side-by-side duplex buildings with a total of four units. Each residence includes 2 bedrooms, 1 bathroom, private laundry, and a functional layout. The property is fully occupied and includes off-street parking along with a shared courtyard between the buildings.
Located on a quiet dead-end street, the property sits adjacent to Edgecliff Park in Spokane Valley. Shopping, restaurants, schools, parks, and commuting routes are all within minutes. The four-unit configuration and consistent occupancy provide a straightforward multifamily asset with established residential use.
Located on a quiet dead-end street, the property sits adjacent to Edgecliff Park in Spokane Valley. Shopping, restaurants, schools, parks, and commuting routes are all within minutes. The four-unit configuration and consistent occupancy provide a straightforward multifamily asset with established residential use.
Key Highlights
- Four‑unit property arranged as two side‑by‑side duplexes
- Each unit includes 2 bedrooms, 1 bathroom, and private laundry
- Fully occupied with established rental history
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,871
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$517,420
$517.4K
Cap Rate 7%
$369,586
$369.6K
Cap Rate 9%
$287,456
$287.5K
Market Conditions
NOI Build-Up for 2,984 SF
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.
Gross rent
$39.4K $13.20/SF
− Vacancy
−$2.4K −$0.81/SF
EGI
$37.0K $12.39/SF
− OpEx
−$11.1K −$3.72/SF
NOI
$25.9K $8.67/SF
Area
Spokane Valley, WA
Vacancy
6.17%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$517,420
Cap Rate 7%
$369,586
Cap Rate 9%
$287,456
Alternative Uses
Best Use
Multifamily LT 5
$369.6K
$323.4K – $431.2K
NOI $25,871 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$342.0K
$299.2K – $399.0K
NOI $23,939 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$648.2K
$567.2K – $756.3K
NOI $45,376 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature two-bedroom layouts, private laundry, and off-street parking.
Where is this quadplex located?
The property is located at 7314 E 7th Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $549,899.
What are key features of this property?
This property features: Four‑unit property arranged as two side‑by‑side duplexes; Each unit includes 2 bedrooms, 1 bathroom, and private laundry; Fully occupied with established rental history
