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3011 E Queen Ave
Spokane, WA 99217

Spokane Area Rental

  • 4,656 Sqft
  • 0.11 Acre

$450,000

1 Month on market

MLS# 202526996

Listing courtesy of Spokane Association of REALTORS MLS as distributed by MLS GRID.

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.

SqFt: 4,656
County: Spokane
Year Built: 1902
Basement
  • Unfinished
Garage / Parking
  • None
Heating / Cooling
  • Natural Gas
Roof
  • Composition

Office Details
Windermere Manito, LLC  —  (509) 747-1051

Broker Reciprocity MLS Disclaimer: Copyright of the Spokane Association of REALTORS MLS. All rights reserved. Listing information deemed reliable but not guaranteed.

IDX listing information is provided exclusively for consumers’ personal, noncommercial use. All other uses are strictly prohibited. The listing information displayed herein is based on information submitted to the MLS GRID as of 11/26/2025, 11:25 PM. 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.