12409 E 3rd Ave, Spokane Valley, WA 99216

• 16,146 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

May 23, 2026 at 7:18PM

Listing Office:

eXp Realty, LLC Branch : 509-596-9520

Listing Agent:

Kristina Carlson : 509-596-9520

MLS ID:

202527878

Interior

• Appliances: Free-Standing RangeDishwasherRefrigerator
• Basement: None
• Heating: ElectricForced Air

Exterior

• Style: Contemporary
• Parking: Off SiteNoneParking spaces: 25

Construction

• Roofing: Composition
• General: High-Rise

Location

• Road/Access: City StreetPrivate Road
• HOA Amenities: LaundryStorageSee Remarks
• Originating MLS: sarmls
• School District: Central Valley
• County: Spokane

Lot

• Zoning: 45222.1102

Financial

• Source: sarmls