$725,000

1824 W 2nd Ave

Spokane, WA 99201

Listed by Ryan Towner, LT Real Estate

Units
5
Built
1903
Size
3,040 sq ft
On market
215 days
Cap rate~5.3%
Cash-on-cash~-4.7%
Cash flow−$784
Aaron Beal

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Purchase details

Purchase price
Closing costs 2.5%
Repairs and remodel

Loan details

Down payment
Interest rateour standard rate

Rents

Rents coming in⁠not on the MLS, confirmed with the listing agent

Expenses

Principal & interest4,001
Property tax 2026⁠Left blank
Insurance⁠No spot on MLS
Sewer⁠Left blank
Water⁠Left blank
Garbage⁠No spot on MLS
Left over after mortgage and expenses9

Set aside

Vacancy
Maintenance
Capital repairs
Management
Set aside for vacancy and maintenance793

What is left

Cash left over each month−$784

The units

UnitBedsBathsSq ftRent / moRentometerestimatedRentCastestimated
111608$1,057estimated Rentometer $1,222 · RentCast $1,180$1,222$1,180
211608$1,057estimated Rentometer $1,222 · RentCast $1,180$1,222$1,180
311608$1,057estimated Rentometer $1,222 · RentCast $1,180$1,222$1,180
411608$1,057estimated Rentometer $1,222 · RentCast $1,180$1,222$1,180
511608$1,057estimated Rentometer $1,222 · RentCast $1,180$1,222$1,180

These 5 units add up to $5,285 a month. Those rents were confirmed with the listing agent.

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Price history

  1. Feb 26, 2026Listed for sale$750,000$150,000/unit

About the building

Excellent investment opportunity in Spokane’s highly desirable Browne’s Addition neighborhood. This two-story multifamily property comprises five 1 bed, 1 bath units, each offering strong rental appeal in one of the city’s most established and walkable areas. Each unit blends historic character with functional layouts, including original hardwood floors, abundant natural light, and decorative fireplaces in select units. Full-size kitchens and well-maintained bathrooms with tub/shower combinations provide practical, comfortable living spaces for tenants. The property offers consistent demand due to its proximity to parks, dining, medical facilities, and downtown Spokane. Ideal for investors seeking stable cash flow in a proven rental submarket.

Where it is

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Listed by Ryan Towner, LT Real Estate · MLS# 202612674 · Active

Cap rate, cash flow and cash-on-cash are Beal Estate NW’s own analysis, not MLS data — they follow the financing assumptions shown on this page, and they are not a valuation of the property and not investment advice. Talk to your lender, your accountant and your own advisers before you rely on any of it. MLS GridListings courtesy of Spokane REALTORS® as distributed by MLS Grid. Based on information submitted to the MLS GRID as of 9/29/2026, 3:45:00 PM. 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. Listing information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing; any other use or search of the data on this site is prohibited. Deemed reliable but not guaranteed accurate by MLS Grid. Verify everything before you write an offer. Report a copyright problem.