For sale

$585,000

Est. $3,597/mo —

•

5 ba

•

2,496

sq ft

205 S Elizabeth Rd, Spokane Valley, WA 99212

About this home

Well-maintained 5-unit investment opportunity in Spokane Valley featuring four 1 bed / 1 bath units and one 2 bed / 1 bath unit with in-unit laundry. The remaining units are supported by a convenient on-site coin-operated laundry, providing additional income potential. Units have been updated over the years, and major capital expenditures have already been addressed, roof, siding, and windows—offering a more predictable, low-maintenance investment profile. Financially, the property has demonstrated consistent performance with ~$52,900 in trailing 12-month gross income. Current rents range from approximately $795 to $1,095, with additional income from utilities and laundry. The unit mix provides strong demand stability, while the Valley location continues to support long-term rental growth. This is a solid, turn-key asset for investors seeking reliable cash flow, reduced capital expenditure risk, and upside through re

Multi-familyProperty Type

1951Year Built

7,620 sq ftLot Size

$234Price/Sq.Ft.

Listed by Jeff Hornberger • The Hornberger Group, LLC

Listing updated: Sep 1, 2026 at 12:22am

Redfin checked: 3 minutes ago

•Source:SPOKANEMLS as Distributed by MLS Grid #202617225

Payment calculator

$3,597 per month

Principal and interest$3,074

Property taxes

$440

HOA dues

Home insurance

$83

Utilities

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Open houses

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Nearby open houses (10)

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Around this home

Schools

K - 12
Preschool & daycare

Sheridan Elementary School

Public PreK-6 • Assigned • 2.0mi

4/10

Chase Middle School

Public 6-8 • Assigned • 2.7mi

6/10

Ferris High School

Public 9-12 • Assigned • 3.4mi

7/10

Provided by GreatSchools

About East

Spokane

East Spokane, located between Spokane River and the Idaho state line, is a residential and commercial Spokane Valley neighborhood with riverfront trails and big-sky views. The neighborhood’s character concentrates around the Argonne Rd & E Sprague Ave crossroads, where auto shops, local diners, and everyday storefronts set a practical, on-the-go tone. Community pillars include Arbor Crest Wine Cellars, the historic Spokane Valley Heritage Museum, and the Spokane Valley Performing Arts Center. Housing ranges from mid-century ramblers to newer subdivisions, with wide arterials and pockets of mature trees. The Centennial Trail and nearby parks shape an outdoors-forward routine, while Sprague and I-90 frame the daily rhythm.

Provided by Walk Score and Local Logic

Property details

Interior
Exterior
Finance

Interior features
Includes in-unit appliances
Laundry available (shared/community)

Bedrooms
Four 1-bedroom units
One 2-bedroom unit

Bathrooms
Each unit has one bathroom

Kitchen
Free-standing range
Dishwasher
Refrigerator

Laundry & utility
On-site laundry

Heating & cooling
Electric heating
Ductless heating/cooling systems

Sale and tax history for 205 S Elizabeth Rd

Sale History
Tax History

Date

Event

Price

SPOKANEMLS as Distributed by MLS Grid #202617225

Aug 25, 2026

Price Changed

$585,000

$234/sq ft

Jul 24, 2026

Price Changed

$590,000

$236/sq ft

Jun 12, 2026

Price Changed

$595,000

$238/sq ft

May 12, 2026

Listed

$615,000

$246/sq ft

SPOKANEMLS as Distributed by MLS Grid #201819734

Jul 12, 2018

Sold

$255,000

$102/sq ft

Jun 22, 2018

Listed

$215,000

$86/sq ft

+15

Awesome Investment opportunity! This Five-Plex has been well taken care of by the current owner! Updated Romex electrical, updated Pex plumbing, all vinyl windows, new gutters, and low maintenance vinyl siding! Desirable area close to all amenities paired with consistent tenants makes this a property you have to add to your portfolio! Seller strongly feels that there is room for improvement where rental rates are concerned! Ask your Realtor to see the 3D floor plan virtual tour!

Public Records

Feb 6, 1996

Sold

$102,999

$41/sq ft

Public Records

May 26, 1994

Sold

$80,000

$32/sq ft

Public Records

Oct 1, 1989

Sold

$61,500

$25/sq ft

Year

Property tax

Land + Additions

Assessment*

2026

$5,280 (+2.8%)

$83,820 + $397,280

$481,100

2025

$5,137 (−4.7%)

$83,820 + $397,280

$481,100

2024

$5,392 (+199.3%)

$80,010 + $433,990

$514,000

2023

$1,801 (+23.3%)

$53,340 + $115,660

$169,000

2022

$1,460 (−60.3%)

$22,860 + $91,440

$114,300

2021

$3,677 (+9.7%)

$22,860 + $266,740

$289,600

2020

$3,352 (+69.6%)

$22,860 + $231,040

$253,900

2019

$1,977 (−12.6%)

$22,860 + $132,200

$155,060

2018

$2,262 (+5.8%)

$22,860 + $123,300

$146,160

2017

$2,139 (+0.1%)

$22,860 + $123,300

$146,160

2016

$2,136 (−1.0%)

$22,860 + $119,700

$142,560

2015

$2,157

$22,860 + $118,600

$141,460

Public record

Public record
Zoning
Permits

Beds

—

Baths

—

Stories

Lot width

—

Lot depth

—

Lot size

7,620 Sq. Ft.

Year renovated

1951

Finished Sq. Ft.

—

Unfinished Sq. Ft.

—

Total Sq. Ft.

2,496

Year built

1951

Style

Multi-Family (5+ Unit)

County

Spokane County

APN

35241.1903

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jun 30, 2026.

MFR

Multifamily Residential District

Multifamily Residential. Allows for multifamily housing located near business and commercial centers, the arterial street system, and public transit. Adjacent single-family zones are protected through transitional standards.

Permitted uses

Include but are not limited to:

Religious facility
Day care facility
Housing-Single unit
Housing-Multiple units
Housing-Senior
Bed & breakfast
Office
Educational/school
Golf related
Park & open space

Jan 18, 2023 • Final

Commercial (new) building

Work on the roofing, windows, and siding.

Fire sprinkler

Jan 18, 2023 • Final

Mechanical permit - residential or commercial

Work on a residential building.

HVAC

Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.

Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

3/10 Fire Factor

0.31% chance of being in a wildfire in next 30 years

3/10 Heat Factor

7 days above 93° expected this year, 15 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

9/10 Air Factor

17 unhealthy days expected this year, 17 days in 30 years

Provided by First Street

Historical weather

Spokane Valley, WA • 99212

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

92/ 100

Exceptional sunlight

Sunscore

There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

10.9 hrs

5.2 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 205 S Elizabeth Rd

There isn’t enough information to generate an accurate estimate at this time. Learn More

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Details provided by SPOKANEMLS as Distributed by MLS Grid and may not match the public record. Learn more.

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GreatSchools Ratings provided by GreatSchools.org.

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About this home

Payment calculator

See this home in person

Nearby open houses (10)

Around this home

Schools

Property details

Sale and tax history for 205 S Elizabeth Rd

Public record

Climate risks

Historical weather

Sun exposure

Redfin Estimate for 205 S Elizabeth Rd

Nearby similar homes

New listings for sale in 99212

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