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3222-3224 N Madison St
Spokane, WA 99205

Spokane Area Rental

  • 8,370 Sqft
  • 0.20 Acre

$1,295,000

1 Month on market

MLS# 202615565

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

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

SqFt: 8,370
County: Spokane
Year Built: 1994
Basement
  • Full
  • Finished
Kitchen / Appliances
  • Free-Standing Range
  • Refrigerator
Garage / Parking
  • None
Heating / Cooling
  • Ductless
Lot / Information
  • Sprinkler - Automatic
  • Level
  • Corner Lot
  • City Bus (w/in 6 blks)
  • Oversized Lot
Features
  • Breakers
Roof
  • Composition

Office Details
The Hornberger Group, LLC  —  (509) 994-5007

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 5/19/2026, 12:22 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.