Brick Multifamily
For Sale
$600,000
Pending
927 Adams, Spokane, WA 99204
Multifamily building with five one-bedroom units, one two-bedroom unit, and on-site laundry facilities.
Property Size4,798 SF
Days on Market83
Property Features for 927 Adams
General Information
Standard status
Pending
Size
4,798 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
6
Amenities
Garage: Detached, Off Site
Garage Spaces: 1
Detached, Off Site
1
Building Details
Year Built
1909
Listing Agency:
LT Real Estate
Listed By:
Ryan Towner · License #24027253
(509) 315-8720
Source:
Clearwaterproperties
Added: Jul 17
Changed: Oct 6
Last Checked: Oct 5 at 6:46PM
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 brick multifamily building includes five one-bedroom units and one two-bedroom unit. The interior features natural oak floors, original woodwork, and large windows designed to bring natural light into each unit. On-site laundry facilities are available for tenant convenience.
The property is presented as a well-maintained investment opportunity with classic late 19th-century architectural details and timeless exterior character.
The unit mix supports a residential income configuration across the six total apartments, with consistent historic features throughout the building.
The property is presented as a well-maintained investment opportunity with classic late 19th-century architectural details and timeless exterior character.
The unit mix supports a residential income configuration across the six total apartments, with consistent historic features throughout the building.
Key Highlights
- Multifamily building with 5 one‑bedroom units and 1 two‑bedroom unit
- On‑site laundry facilities for tenant convenience
- Classic brick exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,721
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$954,420
$954.4K
Cap Rate 7%
$681,729
$681.7K
Cap Rate 9%
$530,233
$530.2K
Market Conditions
NOI Build-Up for 4,798 SF
Gross rent
$92.7K $19.32/SF
− Vacancy
−$5.9K −$1.24/SF
EGI
$86.8K $18.08/SF
− OpEx
−$39.0K −$8.14/SF
NOI
$47.7K $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%
$954,420
Cap Rate 7%
$681,729
Cap Rate 9%
$530,233
Alternative Uses
Best Use
Apartment 5plus
$681.7K
$596.5K – $795.4K
NOI $47,721 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,652 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 99204, WA
7,000
Population
4,357
Households
1.6
Avg Household Size
34
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
7,000
Density / Sq Mi
$50,266
Median Household Income
$39,036
Median Earnings
$1,103
Median Rent
$355,700
Median Home Value
Check the figures for this property
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?
Apartment building - Multifamily building with five one-bedroom units, one two-bedroom unit, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 927 Adams Spokane, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Multifamily building with 5 one‑bedroom units and 1 two‑bedroom unit; On‑site laundry facilities for tenant convenience; Classic brick exterior
