Listed by Keller Williams Realty Bothell
$1,850,000
SOLD MAY 19, 2025

4822 N Nelson St Spokane, WA 99217

Hillyard Neighborhood
31 Beds
31 Baths
-- Sq Ft
0.48 Acres

Recently Sold

12% Below List Price

56 Days on Market

Highlights

  • 0.48 Acre Lot
  • No HOA
  • Carpet
  • Deck
  • Baseboard Heating

About This Home

As of May 2025

This 21-unit complex at 2824 E Wabash Ave and 4822 N Nelson St in Spokane offers an excellent investment opportunity. Priced at $2.1M, it’s well below market value, creating immediate equity potential. Comparable properties in the area have sold for $140,000–$175,000 per unit, making this an attractive deal. The complex features updated units with modern flooring, appliances, and fresh paint, while still allowing room for further improvements. With Spokane’s growing economy and rental demand, a new owner can enhance operations, raise rents, and increase NOI. This is a rare chance for significant upside in a thriving market.

Last Agent to Sell the Property

Corey Crain

Keller Williams Realty Bothell License #26492 Listed on: 03/07/2025

Keller Williams Realty Bothell

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2339949

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,310

Year Built

  • Built in 1973

Lot Details

  • 0.48 Acre Lot
  • 36334.3201

Home Design

  • Poured Concrete
  • Composition Roof
  • Vinyl Construction Material
  • Wood Composite

Flooring

  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 31 Bedrooms
  • 31 Bathrooms

Parking

  • 42 Parking Spaces
  • Open Parking

Additional Features

  • 2-Story Property
  • Deck
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Cannonball Apartments Condos
  • Spokane Subdivision

Listing and Financial Details

  • Assessor Parcel Number 36334.3222

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,310

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1973
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Cannonball Apartments
  • New Construction: No
  • CalculatedSquareFootage: 0
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 131

Interior Features

  • Total Bedrooms: 31
  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Interior Amenities: Laminate
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Construction Type: Metal/Vinyl, Wood
  • Exterior Features: Metal/Vinyl, Wood Products
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 42
  • Open Parking: Yes
  • Total Parking Spaces: 42
  • ParkingUncoveredSpaces: 42

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • WaterSewerGarbage: 31538

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Spokane

Lot Info

  • Parcel Number: 36334.3222
  • Lot Size Acres: 0.4821
  • Lot Size Sq Ft: 21000
  • Additional Parcels Description: 36334.3201
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Deck
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 7.9
  • LeasedItems: None
  • TotalMonthlyIncome: 22250

Multi Family

  • Gross Scheduled Income: 267000
  • Net Operating Income: 169982
  • Number Of Units Total: 21
  • Insurance Expense: 16800
  • Leasable Area: 12150
  • EnergySource: Electric
  • UnitsInBuildingTotal: 21
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 19310

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 Change Sq Ft Price
05/19/2025 05/19/25 Sold $1,850,000 -11.9% --
03/07/2025 03/07/25 For Sale $2,100,000 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Corey Crain

    Seller's Agent in 2025

    Corey Crain

    Keller Williams Realty Bothell

    (425) 387-0853

    1 in this area

    38 Total Sales

    Corey Crain
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2339949

Northwest Multiple Listing Service (NWMLS)
Washington Spokane County Spokane 99217 Hillyard

4822 N Nelson St, Spokane, WA

This home is located at 4822 N Nelson St, Spokane, WA 99217 and is currently priced at $1,850,000. This property was built in 1973. 4822 N Nelson St is a home located in Spokane County with nearby schools including Regal Elementary School, Shaw Middle School, and Rogers High School.

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.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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