Multi Family Home · Spokane, WA 99205
805 W Alice Ave, Spokane, WA 99205
Spokane, WA 99205
$650,000
ActiveMLS® 202617223
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
- Appliances Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
- Basement Full, Partially Finished, See Remarks
- Flooring Wood
- Heating Natural Gas, Hot Water
Exterior and Construction
- Style Ranch
- Roofing Composition
- Construction One Story
Land and Lot
- Lot size 0.21 acres (9,148 sq ft)
- View Territorial
- Lot description Cross Fncd, Sprinkler - Automatic
HOA and Community
- Amenities Laundry
Location and Zoning
- Road/Access City Street, Paved Road
- County Spokane
- Neighborhood Emerson / Garfield
- Zoning 35063.3507
Schools
- High School North Central
- School District Spokane Dist 81
- Elementary School Garfield
- Junior High School Yasuhara
Tax and Legal
- Annual tax $4,819
- Parcel number 35063.3507
Parking and Garage
- Garage Carport, Off Site
Listing Information
- Listing Agent
- Jeff Hornberger
- Listing Office
- The Hornberger Group, LLC
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