1332 W Garland Avenue, Spokane, WA 99205
- $1,300,000
- 6,570
- SqFt
Listing courtesy of The Paragon Group.
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 2562100
- Days on Market
- 0
- Style
- 53 - Tri-plex
- Building Condition
- Good
- Finished SqFt
- 6,570
- Area Total SqFt
- 6570
- Annual Tax Ammount
- 7904
- Lot Size (sq ft)
- 18,474
- Sewer
- Sewer Connected
Property Description
3906-3912 N Cedar St & 1332-1336 W Garland Ave offers three triplexes on three parcels in Spokane’s Garland District. The 9-unit portfolio has already benefited from meaningful ownership investment, including renovated interiors in 6 of 9 units, and major CapEx such as new roofs and windows. With stabilized performance and proven rent growth on renovated units, the portfolio offers dependable in-place income with additional upside remaining. The remaining upside is straightforward and achievable. As long-term tenants naturally vacate, select units can be renovated to match the quality of the completed interiors, allowing rents to continue moving toward proven renovated unit levels. This creates a clear path to incremental cash flow growth while preserving the portfolio’s stabilized performance. Located in the heart of the Garland District, the portfolio benefits from one of Spokane’s most recognizable neighborhood corridors. Known for its historic theater, local restaurants, shops, pubs, and neighborhood character, Garland provides tenants with a walkable, amenity-rich setting while remaining close to Spokane’s broader employment and commercial centers. Continued reinvestment in the district has strengthened its appeal, making the location a clear positive for long-term tenant demand.
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Additional Information
- List Date
- 2026-07-30 00:43:13
- Community
- Shadle Garland
- Net Operating Income
- $78,489
- Gross Adjusted Income
- $121,767
- Gross Scheduled Income
- $112,673
- Total Monthly Income
- $10,623
- Insurance Expenses
- $3,800
- Water/Sewer/Garbage Expenses
- $13,700
- Gross Rent Multiplier
- 11.4
- Total Expenses
- $43,279
- Cap Rate
- 6.04
- Total Number of Units
- 9
- Unit Name
- 1332
- Potential Terms
- Conventional
- Year Built
- 1973
- Roof
- Composition
- Other Expenses
- 17875
- Energy Source
- Electric
- School District
- Spokane
- Elementary School
- Willard Elem
- Middle School
- Glover Mid
- High School
- North Central High
- Total Monthly Income
- $10,623
- Gross Scheduled Income
- $112,673
- Gross Adjusted Income
- $121,767
- Tax Year
- 2026
- Insurance Expense
- $3,800
- W/S/G Expenses
- $13,700
- Total Expenses
- $43,279
- Net Operating Income
- $78,489
- Gross Rent Multiplier
- 11.4
- Cap Rate
- 6.04
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.