Multi Family Home · Spokane, WA

3222-3224 N Madison St, Spokane, WA 99205

$1,295,000 Active MLS® 202615565 Multi Family Home
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ActiveMLS® 202615565
$1,295,000
3222-3224 N Madison St, Spokane, WA 99205
Bds Ba 8,370 Sq.Ft. 0.2 Ac
Description

Well-maintained 8-unit investment opportunity consisting of two 4-plexes on separate residential parcels, offering the possibility of residential financing with more favorable terms than typical commercial loans, subject to buyer’s lender. Each unit features a spacious 2 bed / 1 bath layout of approximately 1000 SF with washer/dryer hookups—larger than typical Spokane rentals—supporting strong tenant demand and retention. Property has been carefully self-managed with excellent upkeep and a stable tenant base with consistent payment history. Recent improvements include multiple newer water heaters and washer/dryer units. In-place rents provide solid cash flow with clear upside through light interior updates; comparable renovated units are achieving ~$1,450–$1,550/mo. One unit has been left intentionally vacant for owner-occupancy or immediate lease-up at market rent. A well-performing, stabilized asset with consistent operations and a straightforward value-add opportunity in a high-dema

Interior Features
  • Additional features
  • Utilities
  • Air conditioning Wall Unit(s)
  • Basement description Full, Finished
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.2
  • Lot description Sprinkler - Automatic, Level, Corner Lot, City Bus (w/in 6 blks), Oversized Lot
Exterior Features
  • Body of water
  • View Territorial
  • Pool
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.2
  • Lot description Sprinkler - Automatic, Level, Corner Lot, City Bus (w/in 6 blks), Oversized Lot
  • Foundation
  • Exterior
  • Roofing materials Composition
Location