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3011 E Queen Ave, Spokane, WA 99217
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$450,000
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Home Details for 3011 E Queen Ave
Price
$450,000
Type
Multi Family
Year Build
1902
Sq. Ft.
4656
Lot Size
0.11
County
Spokane
Basement
Unfinished
MLS®️ Listing#
202526996
On exitrealty.com
56 days
Property Description
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.
- Heating Information
- Natural Gas
- Parking
- None
- Basement
- Unfinished
Listing Courtesy: Windermere Manito, LLC - 509-747-1051
Listings courtesy of the Spokane Association of REALTORS® as distributed by MLS GRID. Based on information submitted to the MLS GRID. 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 for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.
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Market statistics compiled from data from Spokane Association of Realtors.
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$450,000
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EXIT REAL ESTATE NORTH
1105 W. Francis Ave, Suite A, Spokane, WA 99205