303 E Indiana Ave, Spokane


303 E Indiana Ave
Spokane, WA

  • 2 CAR
  • 4,776 SQ FT
  • .34 ACRES

Property Details

Calling all investors! Great 4-unit rental income property in the Gonzaga area w/ tremendous upside potential AND future development possibilities! Nice mix of units, including a 3-bed, 2-bed & two 1-bed apartments. Major weatherization & efficiency updates recently performed by SNAP including blown-in insulation in the walls, new doors & new high-efficiency mini splits for heating & cooling. The vacant units are move-in ready with vinyl windows, updated baths & even beautiful original hardwood floors on the top floor! On-site laundry, covered patio spaces, large & fully fenced backyard, 2 car garage with 4 separate storage areas. A short plat through City of Spokane would allow further development & one or possibly more Plexes to be built under new zoning ordinances. This property has been owned by a nonprofit & has 2 leases in place until 11/30/24 for affordable housing. But new leases at market rates will greatly increase the bottom line. This is a fantastic investment with incredible potential & upside!