12405 E 3rd Ave Spokane Valley, WA 99216
Opportunity NeighborhoodEstimated payment $17,132/month
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.
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
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/22/2025 12/22/25 | For Sale | $5,590,000 | +100.7% | $205 / Sq Ft |
| 12/22/2025 12/22/25 | For Sale | $2,785,000 | -- | $173 / Sq Ft |
Source: Spokane Association of REALTORS®
MLS Number: 202527877
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Information is deemed reliable but not guaranteed.
Based on information submitted to the MLS GRID
- 12419 E 3rd Ave
- 616 S Robie Rd
- 620 S Robie Rd
- 11924 E 2nd Ave
- 11904,11905,119 E Spruce Ln
- 11928 E Sprague Ave
- 312 S Woodlawn Ln
- 308 S Woodlawn Ln
- 12409 E 3rd Ave
- 211 S Woodlawn Ln
- 201-312 S Woodlawn Ln
- 12603 E Main Ave
- 919 S Houk Rd Unit 921
- 11902 E Valleyway Ave
- 12465 E Olive Ave Unit 65
- 13217 E 3rd Ln
- 605 S Bowdish Rd
- 13020 E Valleyway Ave
- 13303 E 6th Ave
- 11412 E 6th Ave
- 205 S Pines Rd
- 12717 E 4th Ave
- 915 S Pines Rd
- 12625 E Main Ave
- 12312 E Olive Ave
- 12050 E Alki Ave
- 12415 E 12th Ave
- 13313 E 4th Ave
- 12623 E Broadway Ave
- 11813 E Broadway Ave
- 12111 E Cataldo Ave
- 402 N Mayhew Ln
- 1318 N McDonald Rd
- 13320 E Mission Ave
- 13310 E Mission Ave
- 1723 N Union Rd
- 12608 E Nora Ave
- 13303-13303 E Mission Ave
- 10108 E Appleway Ave
- 10211 E 14th Ave
Ask me questions while you tour the home.