$2,825,000

12405 E 3rd Ave Spokane Valley, WA 99216

Opportunity Neighborhood

Estimated payment $17,744/month

Total Views 2,590
35 Beds
24 Baths
16,088 Sq Ft
$176 Price per Sq Ft

Highlights

  • 0.6 Acre Lot
  • Property is near public transit
  • Laundry Facilities
  • Contemporary Architecture
  • Forced Air Heating System
  • High Speed Internet

About This Home

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 2021, this low-maintenance property offers contemporary finishes and ample parking. Current rents are below market, providing a clear path to increased cash flow. Seller will pay remaining balance of sewer connection fee agreement at time of sale and significantly boost cash flow for buyers. Seller might also benefit from a conversion to in-unit laundry. With its strong location, newer construction, and immediate value-add potential, this is a compelling multi-family investment.

Listing Agent

Kristina Carlson

eXp Realty, LLC Branch License #130567 Listed on: 09/17/2025

eXp Realty, LLC Branch

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 2021

Lot Details

  • 0.6 Acre Lot
  • Property fronts a private road
  • Level Lot

Home Design

  • Contemporary Architecture

Interior Spaces

  • 16,088 Sq Ft Home
  • 3-Story Property

Kitchen

  • Free-Standing Range
  • Dishwasher

Bedrooms and Bathrooms

  • 35 Bedrooms
  • 24 Bathrooms

Parking

  • 25 Parking Spaces
  • Off-Site Parking

Location

  • Property is near public transit

Schools

  • North Pines Middle School
  • Central Valley High School

Utilities

  • Forced Air Heating System
  • High Speed Internet

Listing and Financial Details

  • Assessor Parcel Number 45222.1101

Community Details

Overview

  • 13 Units
  • High-Rise Condominium
  • 3Rd & Pines Apartments Subdivision

Amenities

  • Laundry Facilities
  • Community Storage Space

Building Details

  • Water Sewer Expense $1,800

Property Details

Home Type

Multi-Family

Year Built

Built in 2021

Lot Details

0

Listing Details

  • Year Built: 2021
  • Property Sub-Type: Rental
  • PropertyType: Residential Income
  • ResoLotFeatures: Level, City Bus (w/in 6 blks), Surveyed
  • Lot Size Acres: 0.6
  • Road Frontage Type: City Street, Private Road
  • Reso Association Amenities: Laundry, Storage, See Remarks
  • Co List Office Phone: +1 (888) 421-25
  • MLS Status: Active
  • Subdivision Name: 3rd & Pines Apartments
  • Architectural Style: Contemporary
  • Reso Structure Type: High-Rise
  • Master Plan Zoning: MFR
  • HighSpeedInternet: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Appliances: Free-Standing Range, Dishwasher, Refrigerator
  • Total Bedrooms: 35
  • Stories: 3

Exterior Features

  • Roof: Composition
  • Construction Type: Masonite

Garage/Parking

  • Parking Features: Off Site, None
  • Total Parking Spaces: 25

Utilities

  • Heating: Electric, Forced Air
  • NumberOfRanges: 13

Fee Information

  • Annual Water Sewer Expense: 1800

Schools

  • Elementary School: Broadway
  • High School: Central Valley
  • Middle Or Junior School: North Pines

Lot Info

  • Parcel Number: 45222.1101
  • Lot Size Sq Ft: 25908
  • Additional Parcels: No

Multi Family

  • Number Of Units Total: 13

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/17/2025 09/17/25 For Sale $2,825,000 -50.4% $176 / Sq Ft
09/15/2025 09/15/25 Price Changed $5,700,000 -2.6% $209 / Sq Ft
07/31/2025 07/31/25 For Sale $5,850,000 -- $214 / Sq Ft
Source: Spokane Association of REALTORS®

Source: Spokane Association of REALTORS®

MLS Number: 202524125

Spokane Association of REALTORS®
Washington Spokane County Spokane Valley 99216 Opportunity

12405 E 3rd Ave, Spokane Valley, WA

For Sale

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Kristina Carlson
Listing Agent
Kristina Carlson
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eXp Realty, LLC Branch
(509) 769-3974