Listed by Kidder Mathews, Bought with eXp Realty
NOT LISTED FOR SALE

Estimated Value: $302,000 - $312,000

7 Beds
5 Baths
2,605 Sq Ft
$118/Sq Ft Est. Value

Last Sold September 10, 2024

Last sale price $300,000 $115 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $1,857/month

29 Days on Market

Highlights

  • Wood Flooring
  • No HOA
  • Baseboard Heating
  • Sacajawea Middle School Rated A-
  • Patio
  • 3-minute walk to Coeur D'Alene Park

About This Home

As of September 2024

Well-maintained, value-add duplex and triplex in Spokane's highly desired Brownes Addition neighborhood. With immediate opportunity to push rents combined with the ability to acquire residential financing, buyers will be well positioned make lucrative returns. Ownership has put ample capital improvements into the property since acquiring the buildings, including new roofs in 2020.

Last Agent to Sell the Property

Max Frame

Kidder Mathews License #130533 Listed on: 07/25/2024

Last Buyer's Agent

Hunter Mackay

eXp Realty License #20123491

eXp Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2269897

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,427

Year Built

  • Built in 1889

Lot Details

  • 9,570 Sq Ft Lot
  • Property is in good condition

Home Design

  • Composition Roof

Interior Spaces

  • 2,605 Sq Ft Home
  • 2-Story Property
  • Wood Flooring

Parking

  • 4 Parking Spaces
  • 4 Covered Spaces

Outdoor Features

  • Patio

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Spokane Subdivision

Listing and Financial Details

  • Assessor Parcel Number 25241.2110

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,427

Year Built

Built in 1889

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1889
  • Buyer Agency Compensation: 2.0
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2605
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: 2.0%
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Commercial
  • Possible Bedrooms: 7
  • Fireplace: No
  • Flooring: Hardwood
  • Interior Amenities: Hardwood
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Storage

Exterior Features

  • Roof: Composition
  • Lot Features: Paved
  • View: No
  • Waterfront: No
  • Exterior Features: See Remarks
  • Foundation Details: See Remarks
  • Property Condition: Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 4
  • Open Parking: No
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: Window Unit A/C
  • Cooling Y N: Yes
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Avista
  • SewerCompany: City of Spokane
  • WaterCompany: City of Spokane
  • WaterSewerGarbage: 2466

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 2466

Schools

  • Junior High Dist: Spokane

Lot Info

  • Parcel Number: 25241.2110
  • Lot Size Acres: 0.2197
  • Lot Size: 9570
  • Lot Size Sq Ft: 9570
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Patio
  • MLSLotSizeSource: County Assessor
  • MLSSquareFootageSource: County Assessor
  • ZoningJurisdiction: City
  • ZoningClass: Commercial

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.73
  • LeasedItems: None
  • TotalMonthlyIncome: 5046

Multi Family

  • Gross Scheduled Income: 60552
  • Net Operating Income: 28536
  • Number Of Units Total: 5
  • Electric Expense: 2466
  • Insurance Expense: 3000
  • Leasable Area: 2470
  • EnergySource: Electric
  • UnitsInBuildingTotal: 5
  • UnitsBelowGrade: false
  • VacancyRate: 2

Tax Info

  • Year: 2024
  • Tax Annual Amount: 5427
  • AdditionalTaxIds: 25241.2110,25241.2111

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 25, 2024
Closed on
Aug 28, 2024
Sold by
Espanola Partners Llc
Bought by
Mikulski George
Seller's Agent
Max Frame
Kidder Mathews
Buyer's Agent
Hunter Mackay
eXp Realty
List Price
$650,000
Sold Price
$300,000
Premium/Discount to List
-$350,000
-53.85%
Views
18
Current Estimated Value
$306,981

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$6,981
Avg. Annual Appreciation
2.21%
Original Mortgage
$285,000
Outstanding Balance
$282,240
Interest Rate
6.78%
Mortgage Type
New Conventional
Estimated Equity
$24,741

Purchase Details

Closed on
Nov 13, 2018
Sold by
Inland Empire Holdings Llc
Bought by
Espanola Partners Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,887,500
Interest Rate
4.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 28, 2017
Sold by
Clear Properties I Llc
Bought by
Brownes Addition Ii Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
3.92%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 10, 2017
Sold by
Paine Penee M
Bought by
Kraiker Richard

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
4.08%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 8, 2001
Sold by
Paine John C
Bought by
Paine Penee M
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mikulski George $300,000 None Listed On Document
Espanola Partners Llc $3,842,500 First American Title Ins Co
Brownes Addition Ii Llc $140,539 First American Title Ins Co
Kraiker Richard $220,000 Spokane County Title Company
Paine Penee M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mikulski George $285,000
Previous Owner Espanola Partners Llc $2,887,500
Previous Owner Brownes Addition Ii Llc $105,000
Previous Owner Kraiker Richard $120,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/10/2024 09/10/24 Sold $300,000 -53.8% $115 / Sq Ft
07/25/2024 07/25/24 For Sale $650,000 -- $250 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,764 $298,600 $85,000 $213,600
2024 $2,764 $278,200 $75,000 $203,200
2023 $2,486 $278,200 $75,000 $203,200
2022 $2,413 $253,720 $57,420 $196,300
2021 $2,279 $191,290 $40,190 $151,100
2020 $2,160 $174,590 $40,190 $134,400
2019 $1,854 $154,890 $40,190 $114,700
2018 $2,121 $152,290 $40,190 $112,100
2017 $1,900 $138,880 $51,680 $87,200
2016 $1,914 $136,880 $51,680 $85,200
2015 $1,901 $133,080 $51,680 $81,400
2014 -- $128,480 $51,680 $76,800
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2269897

Northwest Multiple Listing Service (NWMLS)

APN: 25241.2110