4-Unit Multifamily
For Sale
$669,000
Spokane, WA 99204, Spokane, WA 99204
Residential Income, Spokane, WA
Property Size3,016 SF
Lot Size0.46 Acres
Price / SF$221.82
Days on Market185
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Offsite, Alley
Interior features
Cathedral Ceiling(s), Natural Woodwork
Fireplace
1
Basement
Daylight, Unfinished, Full
Appliances
Free-Standing Range, Indoor Grill, Gas Range, Microwave
Lot features
Views, Treed, City Bus (w/in 6 blks), Oversized Lot
View
City, Territorial
Elementary school
Roosevelt
Middle school
Sacajawea
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Standard status
Active
Size
3,016 SF
Lot size
0.46 Acres
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Wood
Building materials
Brick, Shake Siding
Roof type
Composition, Flat
Architectural style
Colonial
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 7 at 11:06PM
MLS# 202614879
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 Spokane multifamily property contains four units across 3,016 square feet on a 0.46-acre parcel. The units have separate meters, with updated service. Kitchen and bathroom improvements are noted throughout the property, and finished space in the main home may offer the option to create a fifth unit.
The property is in Spokane, Washington, ZIP code 99204. Its recorded features include wood flooring, natural woodwork, cathedral ceilings, and a fireplace. Construction includes brick and shake siding, and the home dates to 1900.
The property is in Spokane, Washington, ZIP code 99204. Its recorded features include wood flooring, natural woodwork, cathedral ceilings, and a fireplace. Construction includes brick and shake siding, and the home dates to 1900.
Key Highlights
- Four rental units in 3,016 square feet
- 0.46‑acre parcel
- Separate meters and updated service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,501
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,020
$690.0K
Cap Rate 7%
$492,871
$492.9K
Cap Rate 9%
$383,344
$383.3K
Market Conditions
NOI Build-Up for 3,016 SF
Gross rent
$52.5K $17.40/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$49.3K $16.34/SF
− OpEx
−$14.8K −$4.90/SF
NOI
$34.5K $11.44/SF
Area
Spokane, WA
Vacancy
6.08%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,020
Cap Rate 7%
$492,871
Cap Rate 9%
$383,344
Alternative Uses
Best Use
Multifamily LT 5
$492.9K
$431.3K – $575.0K
NOI $34,501 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$428.5K
$375.0K – $500.0K
NOI $29,997 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$778.1K
$680.9K – $907.8K
NOI $54,469 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Separate metering and refreshed kitchens and bathrooms support the property's existing rental configuration.
Where is this quadplex located?
The property is located at Spokane, WA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Four rental units in 3,016 square feet; 0.46‑acre parcel; Separate meters and updated service
