805 W Alice Ave, Spokane, WA 99205

• 5,820 sqft

Property Description

Well-maintained 5-unit investment property (3 two-bedroom units and 2 one-bedroom units) with space for an optional 6th unit, offering strong in-place income and clear upside potential. Current operations show approx. $66,554 in annual gross income and ~$47,740 NOI, with low expenses around $18,800/year. Durable brick exterior and recently replaced roof help minimize future capital expenditures. One unit has been fully updated, while the remaining units offer a mix of hardwood floors and functional layouts with room for additional value-add improvements. Property features both off-street and on-street parking, including a large covered carport, along with a community coin-operated laundry room providing additional income. Low-maintenance lot with a small shared yard space for tenant enjoyment. Currently 100% occupied with strong rental demand, making this a solid opportunity for investors seeking stable cash flow with future growth potential.

Listing Status:

Active

Data Last Updated:

June 19, 2026 at 7:19PM

Listing Office:

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

Listing Agent:

Jeff Hornberger : (509) 994-5007

MLS ID:

202617223

Interior

• Appliances: Free-Standing RangeDishwasherRefrigeratorWasherDryer
• Basement: FullPartially FinishedSee Remarks
• Flooring: Wood
• Heating: Natural GasHot Water

Exterior

• Style: Ranch
• Parking: CarportOff Site

Construction

• Roofing: Composition
• General: One Story

Location

• Road/Access: City StreetPaved Road
• HOA Amenities: Laundry
• Originating MLS: sarmls
• School District: Spokane Dist 81
• County: Spokane

Lot

• Zoning: 35063.3507
• View: Territorial

Financial

• Source: sarmls