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: 2 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

Add

5 minutes to get started. No credit impact.

Mortgage resources

See this home in person

We'll connect you with a local agent to show you this home, answer your questions, and assist you on your buying journey.

Next available tour time: Today

Open houses

No upcoming open houses.

Nearby open houses (10)

OPEN TODAY, 10AM TO 5PM3D WALKTHROUGH
$491,995
4 beds2 baths1,797 sq ft
3544 S Clinton Rd, Spokane, WA 99206
OPEN TODAY, 1PM TO 3PM
$310,000
2 beds1 bath2,008 sq ft
1724 E Rich Ave, Spokane, WA 99207
OPEN WED, 1PM TO 5PM
$409,995
3 beds2 baths1,323 sq ft
3831 S Walden St, Spokane, WA 99224
OPEN WED, 4PM TO 6PM
$524,900
5 beds3 baths3,072 sq ft
8711 N Kelly Ct, Spokane, WA 99208
OPEN THU, 10AM TO 5PM
$484,995
3 beds3 baths2,057 sq ft
2511 S Warren Ln, Spokane Valley, WA 99037
OPEN THU, 3:30PM TO 5PM
$415,000
2 beds2 baths2,696 sq ft
11126 Mayfair Rd, Spokane, WA 99218
REDFIN OPEN SAT, 11AM TO 1PM3D WALKTHROUGH
$519,000
4 beds3 baths2,708 sq ft
1907 S Canyon Woods Ln, Spokane, WA 99224
OPEN SAT, 11AM TO 1PM
$385,000
3 beds2 baths1,726 sq ft
3128 W Dalke Ave, Spokane, WA 99205
OPEN SAT, 11AM TO 2PM
$449,900
4 beds2 baths1,616 sq ft
2911 W Dalton Ave, Spokane, WA 99205
OPEN SAT, 12PM TO 2:30PM3D WALKTHROUGH
$414,900
3 beds2 baths1,284 sq ft
19028 E Mountain View Ave, Spokane Valley, WA 99027

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

Tour for free, no strings attached

Takes about 5 minutes & won't affect your credit

Start an offer

Nearby similar homes

$2,000,000

14 beds22 baths14,353 sq ft

1412 N Post St, Spokane, WA 99201

$525,000

8 beds4 baths— sq ft

2318 E Dalke Ave Unit 2320 E Dalke, Spokane, WA 99208

$725,000

5 beds5 baths3,040 sq ft

1824 W 2nd Ave, Spokane, WA 99201

$1,100,000

— beds— baths4,898 sq ft

5012 N Regal St, Spokane, WA 99202

NEW 20 HRS AGO

$4,497,700

6 beds5 baths19,176 sq ft

505 E Hawthorne Rd, Spokane, WA 99217

$650,000

8 beds5 baths5,820 sq ft

805 W Alice Ave, Spokane, WA 99205

New listings for sale in 99212

NEW 9 MINS AGO

$229,900

2 beds2 baths993 sq ft

6017 E 6th Ave Unit M-208, Spokane Valley, WA 99212

NEW 1 HR AGO

$510,000

3 beds3 baths2,070 sq ft

8103 E Elde Dr, Spokane, WA 99212

NEW 2 HRS AGO

$775,000

4 beds3 baths2,232 sq ft

8305 E Maringo Dr, Spokane, WA 99212

NEW 3 HRS AGO

$320,000

3 beds2 baths2,099 sq ft

1725 N Park Rd, Spokane Valley, WA 99212

$439,000

5 beds3 baths2,364 sq ft

3325 N Vista Rd, Spokane Valley, WA 99212

$209,000

2 beds1 bath696 sq ft

4408 E 5th Ave, Spokane Valley, WA 99212-0357

$175,000

1 bed1 bath598 sq ft

6007 E 6th Ave Unit W9, Spokane Valley, WA 99212

$299,900

2 beds1 bath816 sq ft

8209 E Indiana Ave, Spokane Valley, WA 99212

$360,000

3 beds2 baths1,632 sq ft

4317 N Maringo Dr, Spokane, WA 99212

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

Download the Redfin App on the Apple App Store

Download the Redfin App from the Google Play Store

Join us

Become an Agent

Get referrals

Careers

Find homes faster

About us

Find us

Subsidiaries

Affiliated Business

Countries

United States

Canada

Updated September 2025: By searching, you agree to the Terms of Use, and Privacy Policy.

Do not sell or share my personal information.

REDFIN and all REDFIN variants, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.

California DRE #01521930

Redfin is licensed to do business in New York as Redfin Real Estate. NY Standard Operating Procedures

New Mexico Real Estate Licenses

TREC: Info About Brokerage Services, Consumer Protection Notice

All mortgage lending products and information are provided by Rocket Mortgage, LLC | NMLS #3030; www.NMLSConsumerAccess.org. Licensed in 50 states. This site is not authorized by the New York State Department of Financial Services for mortgage solicitation or loan applications activities related to properties located in the State of New York.

Redfin Corporation is an affiliated business of Rocket Limited Partnership. Each company, and their subsidiaries, are separate legal entities operated and managed through its own management and governance structures.

If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.

REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE.

GreatSchools Ratings provided by GreatSchools.org.

99223 homes for sale
99206 homes for sale
99016 homes for sale
99019 homes for sale
99216 homes for sale

Houses for rent in Spokane Valley	Agents near me	Vancouver, WA homes for sale	Spokane Valley Housing Market
Houses for sale near me	Seattle, WA homes for sale	Redmond, WA homes for sale
Land for sale near me	Bellevue, WA homes for sale	Bothell, WA homes for sale
Open Houses near me	Tacoma, WA homes for sale	Spokane Valley Property Records
Condos for sale near me	Kirkland, WA homes for sale	WA New Listings

Spokane homes for sale
Post Falls homes for sale
Rathdrum homes for sale

About this home

Payment calculator

Mortgage resources

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

More real estate resources