620 S Walnut St Spokane, WA 99204
620 S Walnut St, Spokane, WA, 99204
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For Sale
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Apartment buildings
Property Size7,824 SF
Price / SF$159.76
Days on Market850
Property Features for 620 S Walnut St
General Information
- Standard status
- Active
- Size
- 7,824 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing Agency
SVN | Cornerstone
Listed by
Matthew Byrd · License #WA 44400
Source
Crexi
Added: Mar 22, 2024 Checked: Jul 17 at 6:19 am
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 SVN | Cornerstone
Investment Insights
Based on property information with market context.
Key Highlights
- High‑quality 8‑unit apartment complex.
- Located on Spokane's lower south hill.
- All major improvements completed.
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 | $151.2k | $19.32 |
| − Vacancy | −$9.7k | −$1.24 |
| EGI | $141.5k | $18.08 |
| − OpEx | −$63.7k | −$8.14 |
| NOI | $77.8k | $9.95 |
7,824 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$972.7K – $1.30M
NOI $77,817 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,301 @ 7.0% cap · market cap 11.30%
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
Where is this apartment building located?
The property is located at 620 S Walnut St Spokane, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High‑quality 8‑unit apartment complex.; Located on Spokane's lower south hill.; All major improvements completed.
