#202515508, Chuck Mehalechko, Listing office: Kelly Right Real Estate of Spokane
$5,850,000 List price
12405-12409 E 3rd Ave Spokane Valley, WA 99216
27,309 sqft
1.2 acres
$214 / sqft
Multi-Family
Property details
About 12405-12409 E 3rd Ave
Discover a rare offering of two modern apartment buildings in Spokane Valley’s Opportunity Neighborhood, ideally located near schools, shopping, dining, parks, and the Appleway Trail. Built in 2021 and 2023, these low-maintenance properties total 26 units- 22 spacious 3 bed/2 bath and four 1 bed/1 bath apartments with 40+ parking spaces and contemporary finishes throughout. Each building features common laundry facilities and in-unit washers/dryers in select apartments, with potential to boost income by adding in-unit laundry to 14+ units. Current rents are below market, providing a clear path for increased cash flow. Zoning is MFR, and both parcels sit on over 25,000 SF each. Additional features includes reduced expenses through utility billing conversion. Strong location, new construction, and immediate value-add potential make this a compelling multi-family investment.
Highlights
Home typeMulti Family
HeatingElectric, Forced Air
StatusActive
(New)
(New)
Size27,309 sqft
Lot size1.19 Acres
Year built2020
ParkingOff Site, None
MLS #202521545
Summary
- Appliances: Range, Dishwasher, Refrigerator
- Basement: No
- Attached Garage: No
- Parking: Off Site, None
- Exterior: Storage, See Remarks
- Heating: Electric, Forced Air
- List Price: $5,850,000
- Price/SqFt: $214
- Lot: Level
- Directions: GPS is accurate
- Year Built: 2020
- Living Area: 27,309 SqFt
- Lot Size: 1.19 Acres
- MLS Number: 202521545
- MLS Name: SARMLS
- Office Name: eXp Realty, LLC Branch
- Office Email: wa.contracts@exprealty.com
- Listing Agent: Kristina Carlson
Listings courtesy of Spokane Association of REALTORS® MLS as distributed by 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. Properties displayed may be listed or sold by various participants in the MLS.
DMCA Notice
The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS®. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the SARMLS. Real estate listings held by other brokerage firms are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Copyright 2025 Spokane Association of REALTORS® MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 8/1/2025, 4:55:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
Nearby schools
2
Grant Elementary School
Public District PK-5
0.6 mi
•1300 E 9th Ave
5
Roosevelt Elementary School
Public District PK-5
1.0 mi
•333 W 14th Ave
7
Hutton Elementary School
Public District KG-5
1.4 mi
•908 E 24th Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $32,417. Residents of Spokane Valley, WA typically earn less than $<35k each year. Residents typically live in single, no kids family. The most common level of education of people living in this area is post secondary degree.
How much money do the neighbors make?
54%
<35k
24%
35k-100k
8%
100k-200k
14%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Doctorate
What types of families live nearby?
65%
Single, No Kids
15%
Single, with Kids
13%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
5%
12-17 yrs old
24%
18-34 yrs old
50%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
UFC
Soccer
Pro Wrestling
Where do the neighbors shop?
Family Dollar
Forever 21
Burlington
Where do the neighbors go to eat?
Burger King
Dominos Pizza
Cicis Pizza
What do the neighbors drive?
Buick
Mazda
Pontiac
What do the neighbors listen to?
Urban Contemporary
Rhythmic Contemporary Hits
News
All data provided by Home Junction and Claritas
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Frequently asked questions
About 12405-12409 E 3rd Ave
The listing price of 12405-12409 E 3rd Ave property is $5,850,000.
The property 12405-12409 E 3rd Ave is a multi located in Spokane Valley, Washington, 99216.
Active Listing: 12405-12409 E 3rd Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 12405-12409 E 3rd Ave are: Grant Elementary School (GreatSchools Rating 2/10), Roosevelt Elementary School (GreatSchools Rating 5/10), Hutton Elementary School (GreatSchools Rating 7/10), Yasuhara Middle School (GreatSchools Rating 1/10), Sacajawea Middle School (GreatSchools Rating 7/10), Spokane Public Montessori (GreatSchools Rating 6/10), Pride Preparatory School (GreatSchools Rating 7/10), Lewis & Clark High School (GreatSchools Rating 7/10), North Central High School (GreatSchools Rating 6/10).
The property 12405-12409 E 3rd Ave is 27,309 SqFt (source: MLS/tax record).
The year of construction for 12405-12409 E 3rd Ave is 2020.
This home is located at 12405-12409 E 3rd Ave in Spokane Valley, WA and zip code 99202 in the East Central neighborhood. This 27,309 square foot home, which was built in 2020, sits on a 1.19 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since July 31, 2025 and is currently priced at $5,850,000.
In July 2025, from all listings sold in Spokane Valley, WA there were more than 103 sold above asking price, over 137 sold below and more than 96 were sold right at the asked price. The number of listings in Spokane Valley, WA increased by 13.6% between June and July 2025. The median list price of listings available in July 2025 was $411,157, while the average time on the real estate market was 24 days.
From Rocket Homes Real Estate and based on county public records data.