3222-3224 N Madison St, Spokane, WA 99205

• 8,370 sqft

Property 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

Listing Status:

Active

Data Last Updated:

June 19, 2026 at 5:18PM

Listing Office:

The Hornberger Group, LLC : (509) 994-5007

Listing Agent:

Jeff Hornberger : (509) 994-5007

MLS ID:

202615565

Interior

• Appliances: Free-Standing RangeRefrigerator
• Basement: FullFinished
• A/C: Wall Unit(s)
• Heating: Ductless

Exterior

• Style: Traditional
• Parking: Parking spaces: 10

Construction

• Roofing: Composition
• General: Two Story

Location

• Road/Access: City StreetPaved Road
• HOA Amenities: None
• Originating MLS: sarmls
• School District: Spokane Dist 81
• County: Spokane

Lot

• Zoning: 35063.3709
• View: Territorial

Financial

• Source: sarmls