3011 E Queen Ave Spokane, WA 99217
Hillyard NeighborhoodEstimated payment $2,672/month
About This Home
Located in Spokane’s 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 8.34% cap rate (vs. the 2025 county average of 6.41%) and a price of $56,250/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 area’s expected growth from the North–South Freeway completion in 2030 adds long-term appreciation potential.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1902
Lot Details
- 4,792 Sq Ft Lot
Home Design
- Vinyl Siding
Interior Spaces
- 4,656 Sq Ft Home
- 3-Story Property
- Unfinished Basement
Community Details
- 8 Units
Listing and Financial Details
- Assessor Parcel Number 36343.1411
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,025 | $439,600 | $40,000 | $399,600 |
| 2024 | $4,025 | $405,700 | $40,000 | $365,700 |
| 2023 | $2,646 | $391,400 | $40,000 | $351,400 |
| 2022 | $1,921 | $270,200 | $30,000 | $240,200 |
| 2021 | $2,444 | $205,200 | $20,000 | $185,200 |
| 2020 | $2,107 | $170,300 | $20,000 | $150,300 |
| 2019 | $1,970 | $164,600 | $20,000 | $144,600 |
| 2018 | $1,747 | $125,400 | $20,000 | $105,400 |
| 2017 | $1,693 | $123,700 | $20,000 | $103,700 |
| 2016 | $1,687 | $120,600 | $20,000 | $100,600 |
| 2015 | $1,710 | $119,600 | $20,000 | $99,600 |
| 2014 | -- | $113,000 | $20,000 | $93,000 |
| 2013 | -- | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/12/2026 02/12/26 | Pending | -- | -- | -- | |
| 11/12/2025 11/12/25 | For Sale | $450,000 | +157.1% | $97 / Sq Ft | |
| 09/09/2020 09/09/20 | Sold | $175,000 | -2.8% | $60 / Sq Ft | View Prior Sale |
| 06/06/2020 06/06/20 | Pending | -- | -- | -- | |
| 05/25/2020 05/25/20 | Price Changed | $180,000 | -14.3% | $61 / Sq Ft | |
| 05/14/2020 05/14/20 | Price Changed | $210,000 | -10.6% | $72 / Sq Ft | |
| 04/30/2020 04/30/20 | For Sale | $234,900 | +34.2% | $80 / Sq Ft | |
| 04/21/2020 04/21/20 | Off Market | $175,000 | -- | -- | |
| 03/31/2020 03/31/20 | For Sale | $234,900 | 0.0% | $80 / Sq Ft | |
| 03/17/2020 03/17/20 | Pending | -- | -- | -- | |
| 03/12/2020 03/12/20 | For Sale | $234,900 | 0.0% | $80 / Sq Ft | |
| 03/05/2020 03/05/20 | Pending | -- | -- | -- | |
| 12/12/2019 12/12/19 | Price Changed | $234,900 | -6.0% | $80 / Sq Ft | |
| 12/12/2019 12/12/19 | For Sale | $249,900 | +42.8% | $85 / Sq Ft | |
| 12/11/2019 12/11/19 | Off Market | $175,000 | -- | -- | |
| 09/12/2019 09/12/19 | Pending | -- | -- | -- | |
| 07/11/2019 07/11/19 | For Sale | $249,900 | -- | $85 / Sq Ft |
Source: Spokane Association of REALTORS®
MLS Number: 202611428
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