3011 E Queen Ave - Apartments FOR SALE


Spokane, WA 99217- Hillyard
$450,000 USD
509-496-6922
3011 E Queen Ave, Spokane, WA for Sale
$450,000 USD
Apartments - FOR SALE
1/21
null | 8.34% Cap Rate

3011 E Queen Ave
Spokane, WA 99217
Hillyard


HIGHLIGHTS

  • Strong 8.34% Cap Rate: Well above the 2025 Spokane County average of 6.41%.
  • Low Price Per Unit: $56,250/unit vs. county average of $124,413/unit.
  • Growth Corridor Location: Hillyard poised for lift with the 2030 North–South Freeway.
  • $150K+ in Upgrades: New shed, interior paint, and LVP flooring.
  • Easy, Low-Maintenance Asset: Single building, single roof, simple operations.

OVERVIEW

Located in Spokane’s up and coming Hillyard neighborhood, the Queen Apartments present an affordable multifamily opportunity with significant upside. The units feature new flooring and fresh interior paint, making it easy for an investor to step in, lease the remaining vacant units, and start generating immediate cash flow. With a mix of 1 2bed/1bath unit, 1 1bed/1bath unit, and 6 single room occupancy units, along with a backyard storage shed and a basement that could be converted into a laundry room, this property offers a steady income stream and major upside potential. It is a compelling investment for anyone looking to capture strong returns in a rapidly improving area.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$113 USD /SF

# OF UNITS

8

PRICE/UNIT

$56,250

CAP RATE

8.34%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1902

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,000 SF

ZONING

CC1

APN/PARCEL ID

36343.1411

ASK ABOUT THIS PROPERTY

Jordan Lester, CCIM, MBASVN | CornerstoneMore Info
509-496-6922

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Jordan Lester, CCIM, MBASVN | CornerstoneMore Info
509-496-6922

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.