BEDS0
BATHS
SQUARE FEET4,656
MLS#202611428
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLSpokane Dist 81
Property Description
Located in Spokanes up-and-coming Hillyard neighborhood, the Queen Apartments offer an affordable, turnkey multifamily investment. Units feature new LVP flooring and fresh interior paint, allowing an investor to lease the remaining vacancies and generate immediate cash flow. The property includes a mix of 2bed/1bath, 1bed/1bath, and SRO units, plus a backyard storage shed and a basement with potential for a future laundry room. With an 9.5% cap rate (vs. the 2025 county average of 6.41%) and a price of $49,375/unit?well below the $124,413 county average?this asset provides clear value upside. Over $150,000 in recent improvements and a simple, low-maintenance layout make ownership easy, while the areas expected growth from the North?South Freeway completion in 2030 adds long-term appreciation potential.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Unfinished
Roof Type: Composition
Year Built: 1902
Feature Descriptions
Association Amenities: None
Days on Site: 124
Exterior: Vinyl Siding
Heating/Cooling: Natural Gas
Parcel#: 36343.1411
Parking: None
SQ. FT. Total: 4656
Water Features: See Remarks
Local Schools
School District: Spokane Dist 81
Listed By / Shown By
Listed By
Agency Name: SVN Cornerstone
Shown By
Agency Title: Coldwell Banker Tomlinson
Agency Phone: (509) 467-7400
Estimate Your Payment
Estimated Payment
$ 994.31 per month $879.10 Principal & Interest $0.00 Property Tax (data not provided by mls) $115.21 Homeowner's Insurance
3011 E Queen Ave | MLS# 202611428
This multi-family property located at 3011 E Queen Ave, Spokane, WA 99217 is currently listed for sale with an asking price of $395,000. E Queen Ave is located within the Spokane Dist 81 school district. Search Spokane real estate on www.cbspokane.com today.