Four-Unit Ranch
For Sale
$549,899
7314 E 7th Ave, Spokane Valley, WA 99212
Residential Income, Spokane Valley, WA
Property Size2,984 SF
Lot Size0.35 Acres
Price / SF$184.28
Days on Market52
Property Features for 7314 E 7th Ave
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 3, Laundry Room, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 8, Utility Room, Bedroom 3
Parking features
Offsite
Appliances
Free-Standing Range, Refrigerator
Lot features
Level
View
City
Elementary school
Lincoln Heights
Middle school
Chase
High school
Ferris
Elementary school district
Spokane Dist 81
Standard status
Active
APN
35241.4001
Size
2,984 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Annual Amount
6114
Utilities
Heating system
Forced Air, Natural Gas
Amenities
private laundry
shared courtyard
off-street parking
Building Details
Year built
1942
Floors in Building
1
Number of units
4
Building materials
Wood Siding
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Keller Williams Spokane - Main · Keller Williams Realty
(509) 458-4000
Listed By:
Lenae Thornton
(509) 455-4000
Added: Aug 3
Changed: Sep 16
Last Checked: Sep 23 at 4:06AM
MLS# 202622051
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 2,984-square-foot quadplex contains four occupied residences arranged across two side-by-side duplex buildings. Each unit includes two bedrooms, one bathroom, private laundry, a functional floor plan, a free-standing range, and a refrigerator. The property was built in 1942 and features ranch-style architecture, wood siding, composition roofing, and natural-gas forced-air heating. The 0.35-acre site also includes a shared courtyard between the buildings.
Located at 7314 E 7th Ave in Spokane Valley, the property sits adjacent to Edgecliff Park on a dead-end street. Shopping, restaurants, schools, parks, and commuting routes are described as being within minutes of the property. Its four-unit layout and fully occupied status provide a straightforward multifamily configuration for an owner seeking an existing residential income asset.
Located at 7314 E 7th Ave in Spokane Valley, the property sits adjacent to Edgecliff Park on a dead-end street. Shopping, restaurants, schools, parks, and commuting routes are described as being within minutes of the property. Its four-unit layout and fully occupied status provide a straightforward multifamily configuration for an owner seeking an existing residential income asset.
Key Highlights
- Four occupied units across two side‑by‑side duplex buildings
- Each residence has 2 bedrooms, 1 bathroom, and private laundry
- 2,984 square feet on a 0.35‑acre site
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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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex structures offer consistent four-unit configuration with private laundry in every residence.
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 occupied units across two side‑by‑side duplex buildings; Each residence has 2 bedrooms, 1 bathroom, and private laundry; 2,984 square feet on a 0.35‑acre site
