$430,000

8 Beds 2 Baths 3,456 SQFT 0.15 Acres
Type: Multi-Family

2608 N Madelia Street
Spokane, WA 99207

MLS#: 2586041
Presented by: The Paragon Group and NWMLS

Property Description

 

Fantastic opportunity to own a spacious North Spokane duplex with approximately 1,700 SF per unit. This property offers the size, comfort, and functionality of a single-family home with the income potential of multifamily ownership. One unit has been recently updated and is currently vacant, creating an immediate opportunity for an owner-occupant to move in while continuing to generate rental income from the neighboring unit. The setup may also provide access to multiple owner-occupied financing options. For investors, the property offers an approachable entry point into the Spokane multifamily market with just two highly manageable units and potential for continued rent growth. Located in an established North Spokane neighborhood just blocks from a brand-new middle school and other recent area improvements, the property also provides convenient access to retail, services, employment centers, and major transportation corridors. An excellent opportunity for a first-time investor, portfolio expansion, or buyer looking to offset housing costs through rental income.


 

Interior Features

Bedrooms

Bedrooms Upper0

Bathrooms

Baths Full Upper0
Baths Half Upper0
Baths Three Quarter Upper0

Other Interior Features

Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringLaminate, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces0
Total Stories1

General

Building Area Units0 sqft
Cap Rate7.03
Carport Spaces0
Carport Y/NNo
CitySpokane
CoolingWall Unit(s)
CountySpokane
DirectionsTurn north on N Madelia St from E Illinois Ave and the property will be on the east side of the road
Electric Expense0
Elementary SchoolBuyer To Verify
Fuel Expense0
Garage Spaces1
HOANo
HOA Fee$0
HeatingWall Furnace
High SchoolBuyer To Verify
High School DistrictSpokane
Insurance Expense670
Leasable Area3,400 sqft
Listing TermsCash, Conventional, FHA
Living Area0 sqft
Lot Size Square Feet6,600 sqft
Lot Size UnitsSquare Feet
MLS Area561 - Spokane County
Middle/Junior High SchoolBuyer To Verify
NWM_ShowMapLinkY
Net Operating Income30253
New ConstructionNo
Number Of Units Total2
PossessionClosing
Possible UseResidential
Property ConditionAverage
Property Style52 - Duplex
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksFantastic opportunity to own a spacious North Spokane duplex with approximately 1, 700 SF per unit. This property offers the size, comfort, and functionality of a single-family home with the income pot
RoofComposition
Senior Community Y/NNo
SewerSewer Connected
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeDuplex
Subdivision NameSpokane
Tax Annual Amount$3,494
Tax Year2026
Units Below Gradetrue
Units In Building Total2
Water Sewer Garbage0
Year Built1977
Zoning DescriptionResidential

Exterior

Building Area Total3,456 sqft
Covered Spaces1
Exterior AmenitiesBrick
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot Size Acres0.1515
Parking Uncovered Total2
Total Parking3
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Schools 

High School Buyer To Verify High School
Elementary School Buyer To Verify Elementary School
Middle School Buyer To Verify Middle School

  

Similar Properties

$430,000

8 Beds 2 Baths 3,456 SQFT 0.15 Acres
Type: Multi-Family

2608 N Madelia Street
Spokane, WA 99207

MLS#: 2586041