3222-3224 N Madison St, Spokane, WA 99205
Spokane County
Key Facts
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
Property Information
Property Type
Residential Income
Style
Traditional
Year Built
1994
Living Area
8,370 sq ft
Lot Size
0.20 acres
Parking Spaces
10
Days on Market
33
MLS® Listing#
202615565
Property Features
Appliances
Cooling
Heating
Basement
Parking
Patio
Lot Features
Roof
Schools
- Elementary:
- Audubon
- Middle:
- Glover
- High:
- North Central
Financial Details
Annual Taxes
$12,969
Parcel Number
35063.3709
Directions
North on Monroe, left on Alice. Buildings are on the left hand side (Park in the parking lot or on Madison st.)
Affordability Calculator
$259,000
Estimated monthly payment
$6,893/mo
Principal $1,036,000 · Est. interest $1,445,312 over 30 yrs
Location
- 3222-3224 N Madison St, Spokane, WA 99205
Getting Around
Points of Interest in Spokane, WA
Showing the Spokane area map.
Nearby Schools
North Monroe Learning Center
School · 0.1 mi away
Trinity Catholic School
School · 0.6 mi away
Salish School of Spokane
School · 0.7 mi away
Northwest Parent Cooperative Preschool
School · 0.7 mi away
Lil Hawks
School · 0.8 mi away
Willard Elementary
Elementary · 0.8 mi away
Shadle Park High School
Secondary · 0.8 mi away
Audubon Elementary
Elementary · 0.9 mi away
Garfield Elementary School
Elementary · 0.9 mi away
The Community School
Secondary · 1.1 mi away
Northwest Achieve School
School · 1.1 mi away
Glover Middle School
Secondary · 1.1 mi away
North Central High School
Secondary · 1.1 mi away
Finch Elementary School
Elementary · 1.2 mi away
St Charles Catholic School
School · 1.3 mi away
Enlightium Academy
School · 1.3 mi away
Merry Glen: A Family Cooperative
School · 1.4 mi away
Longfellow Elementary
Elementary · 1.5 mi away
Spokane Juvenile Detention School
Secondary · 1.5 mi away
Children's Garden
School · 1.5 mi away
Commute Calculator
Nearby Homes
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| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 712 E 19TH Ave, Spokane, WA | $915,000 | 4 | 3 | — |
| 1810 W Paradise Rd, Spokane, WA | $915,000 | 2 | 2 | 1,624 |
| 1416 E Houston Ave, Spokane, WA | $920,000 | — | — | — |
| 8604 E Black Oak Ln, Spokane, WA | $924,000 | 5 | 4 | 4,680 |
| 803 W Willapa Ave, Spokane, WA | $925,000 | 5 | 3 | 3,774 |
| 2025 W 4TH Ave, Spokane, WA | $925,000 | 8 | 8 | 5,734 |
Moving Cost Estimate
EXIT Agents in Spokane
Listing Courtesy: The Hornberger Group, LLC - 5099945007