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12409 E 3rd Ave
Spokane Valley, WA 99216

Spokane Area Rental

  • 16,146 Sqft
  • 0.60 Acre

$2,875,000

1 Week on market

MLS# 202524126

Listing courtesy of Spokane Association of REALTORS MLS as distributed by MLS GRID.

Discover a rare opportunity to own a modern Spokane Valley apartment building featuring 11 3-bed bed/2-bath apartments and two 1-bed/1-bath apartments. Ideally located near schools, shopping, dining, parks, and bordering the Appleway Trail, buyers have several paths to increase income through rent increases, laundry conversion, and utility fee payoff. Built in 2023, this low-maintenance property offers contemporary finishes, ample parking, and in-unit and common laundry facilities. Current rents are below market, providing a clear path to increased cash flow. Seller will pay the remaining balance of the sewer connection fee agreement at the time of sale and significantly boost cash flow for buyers. Seller might also benefit from a conversion to in-unit laundry for the five remaining units sharing a common laundry room. With its strong location, newer construction, and immediate value-add potential, this is a compelling multi-family investment.

SqFt: 16,146
County: Spokane
Year Built: 2023
Basement
  • None
Kitchen / Appliances
  • Free-Standing Range
  • Dishwasher
  • Refrigerator
Garage / Parking
  • Off Site
  • None
Heating / Cooling
  • Electric
  • Forced Air
Lot / Information
  • Level
  • City Bus (w/in 6 blks)
  • Legal Non-Conforming
Roof
  • Composition

Office Details
eXp Realty, LLC Branch  —  (888) 421-2531

Broker Reciprocity MLS Disclaimer: Copyright of the Spokane Association of REALTORS MLS. All rights reserved. Listing information deemed reliable but not guaranteed.

IDX listing information is provided exclusively for consumers’ personal, noncommercial use. All other uses are strictly prohibited. The listing information displayed herein is based on information submitted to the MLS GRID as of 9/24/2025, 12:26 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.