Multi Family Home · Spokane, WA

805 W Alice Ave, Spokane, WA 99205

$655,000 Active MLS® 202617223 Multi Family Home
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ActiveMLS® 202617223
$655,000
805 W Alice Ave, Spokane, WA 99205
Bds Ba 5,820 Sq.Ft. 0.21 Ac
Description

Well-maintained 5-unit investment property (3 two-bedroom units and 2 one-bedroom units) with space for an optional 6th unit, offering strong in-place income and clear upside potential. Current operations show approx. $66,554 in annual gross income and ~$47,740 NOI, with low expenses around $18,800/year. Durable brick exterior and recently replaced roof help minimize future capital expenditures. One unit has been fully updated, while the remaining units offer a mix of hardwood floors and functional layouts with room for additional value-add improvements. Property features both off-street and on-street parking, including a large covered carport, along with a community coin-operated laundry room providing additional income. Low-maintenance lot with a small shared yard space for tenant enjoyment. Currently 100% occupied with strong rental demand, making this a solid opportunity for investors seeking stable cash flow with future growth potential.

Interior Features
  • Additional features
  • Utilities
  • Air conditioning
  • Basement description Full, Partially Finished, See Remarks
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.21
  • Lot description Cross Fncd, Sprinkler - Automatic
Exterior Features
  • Body of water
  • View Territorial
  • Pool
  • Pool description
  • Outbuildings
  • Fence
  • Lot dimension 0.21
  • Lot description Cross Fncd, Sprinkler - Automatic
  • Foundation
  • Exterior
  • Roofing materials Composition
Location