3222/3224 N Madison St.

THE OPPORTUNITY

See the potential.

This well-maintained two-building, 8-unit portfolio offers a rare combination of stability today with clear, achievable upside. Each unit is a 2 bed / 1 bath layout at approximately 900 sq ft—noticeably larger than many comparable units in the Spokane market—making them highly attractive to long-term tenants and helping support consistent occupancy.

The property has been self-managed with a high level of care, resulting in zero delinquency and a strong tenant base. Current operations reflect steady performance, while still leaving room for a new owner to step in and capture additional value.

Units are in solid, rent-ready condition, with the opportunity for light interior updates to push rents further. Comparable renovated units in the area are achieving $1,450–$1,550/month, providing a clear path to increased revenue without heavy repositioning.

One unit will be delivered vacant at closing, giving flexibility for an owner-occupant or allowing a buyer to immediately implement their leasing strategy at market rent.

Overall, this is a clean, straightforward asset—ideal for an investor looking for dependable cash flow with upside through thoughtful improvements rather than major renovation risk.

THE DETAILS THAT MATTER

A closer look.

Transaction

For lease

Property type

Multifamily

Building area

4,180 SF

Lot area

0.21 acres

Year built

1994

Zoning

Not provided

Lease structures

On request

Availability date

Confirm with listing team

Information is supplied by the listing source. Unpublished financial fields are omitted. Financial figures and availability should be independently confirmed. Catalog updated Oct 19, 2026.

3222 North Madison Street, Spokane, WA 99205