6-Unit Craftsman Apartment
For Sale
$1,050,000
Spokane, WA 99204, Spokane, WA 99204
Residential Income, Spokane, WA
Property Size6,200 SF
Lot Size0.27 Acres
Price / SF$169.35
Days on Market186
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Offsite
Window features
Wood Frames
Interior features
Natural Woodwork
Fireplace
1
Basement
Full, Partially Finished, Walk-Out Access
Appliances
Free-Standing Range, Refrigerator
Lot features
Views, Fenced Yard, Sprinkler - Automatic, Hillside, City Bus (w/in 6 blks), Oversized Lot
View
City
Elementary school
Roosevelt
Middle school
Sacajawea
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
Size
6,200 SF
Lot size
0.27 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1909
Floors in Building
2
Number of units
7
Flooring type
Wood
Building materials
Brick, Stucco, Wood Siding
Roof type
Composition
Architectural style
Craftsman
Listing Agency:
Windermere Manito, LLC
(509) 747-1051
Listed By:
Dan McLaughlin · License #93712
(509) 434-9219
Added: Apr 6
Changed: Oct 7
Last Checked: Oct 8 at 12:06AM
MLS# 202614878
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 6-unit apartment building offers 6,200 square feet on a 0.27-acre parcel. Built in 1909, the Craftsman-style structure has brick, stucco, and wood siding, with natural woodwork, wood flooring, and a fireplace. Electric heat and window-unit cooling serve the building; appliances include a free-standing range and refrigerator. Parking includes a driveway and off-site spaces.
The property is in Spokane’s South Hill, near bus routes, grocery stores, restaurants, and hospitals. All six units are currently occupied.
The property is in Spokane’s South Hill, near bus routes, grocery stores, restaurants, and hospitals. All six units are currently occupied.
Key Highlights
- Six‑unit apartment building with 6,200 square feet
- 0.27‑acre parcel in Spokane’s South Hill
- Built in 1909; Craftsman architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,665
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,233,300
$1.2M
Cap Rate 7%
$880,929
$880.9K
Cap Rate 9%
$685,167
$685.2K
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$119.8K $19.32/SF
− Vacancy
−$7.7K −$1.24/SF
EGI
$112.1K $18.08/SF
− OpEx
−$50.5K −$8.14/SF
NOI
$61.7K $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%
$1,233,300
Cap Rate 7%
$880,929
Cap Rate 9%
$685,167
Alternative Uses
Best Use
Apartment 5plus
$880.9K
$770.8K – $1.03M
NOI $61,665 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $111,972 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
25
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 - All six apartments are occupied, and the building features natural woodwork and wood flooring.
Where is this apartment building located?
The property is located at Spokane, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Six‑unit apartment building with 6,200 square feet; 0.27‑acre parcel in Spokane’s South Hill; Built in 1909; Craftsman architectural style
