Multi Family Home · Spokane, WA 99205
3222-3224 N Madison St, Spokane, WA 99205
Spokane, WA 99205
$1,250,000
ActiveMLS® 202615565
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
- Appliances Free-Standing Range, Refrigerator
- Basement Full, Finished
- A/C Wall Unit(s)
- Heating Ductless
Exterior and Construction
- Style Traditional
- Roofing Composition
- Construction Two Story
Land and Lot
- Lot size 0.2 acres (9,000 sq ft)
- View Territorial
- Lot description Sprinkler - Automatic, Level, Corner Lot, City Bus (w/in 6 blks), Oversized Lot
Location and Zoning
- Road/Access City Street, Paved Road
- County Spokane
- Neighborhood Emerson / Garfield
- Zoning 35063.3709
Schools
- High School North Central
- School District Spokane Dist 81
- Elementary School Audubon
- Junior High School Glover
Tax and Legal
- Annual tax $12,969
- Parcel number 35063.3709
Parking and Garage
- Parking spaces 10
- Parking Parking spaces: 10
Listing Information
- Listing Agent
- Jeff Hornberger
- Listing Office
- The Hornberger Group, LLC
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