This 21-unit complex at 2824 E Wabash Ave and 4822 N Nelson St in Spokane offers an excellent investment opportunity. Priced at $2.1M, it’s well below market value, creating immediate equity potential. Comparable properties in the area have sold for $140,000–$175,000 per unit, making this an attractive deal. The complex features updated units with modern flooring, appliances, and fresh paint, while still allowing room for further improvements. With Spokane’s growing economy and rental demand, a new owner can enhance operations, raise rents, and increase NOI. This is a rare chance for significant upside in a thriving market.
Sold
Listed by: Keller Williams Realty Bothell • Corey Crain
Bought with: ZNonMember-Office-MLS
$1,850,000
4822 N Nelson Street, Spokane, WA 99217
31beds
31baths
--sqft
Multi Family
Built in 1973
-- sqft lot
$1,838,300 Zestimate®
$--/sqft
$1,485 Estimated rent
Home value
$1,838,300
$1.69M - $2.00M
$1,485/mo
Zestimate® history
Owner options
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$11,163/mo
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Modern flooringUpdated unitsFresh paint
Zillow last checked:
Listing updated:
Listed by:
Corey Crain,
Keller Williams Realty Bothell
Bought with:
Non Member ZDefault
ZNonMember-Office-MLS
Source: NWMLS as distributed by MLS GRID,MLS#: 2339949
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 31
- Bathrooms: 31
Heating
- Baseboard, Electric
Cooling
- None
Features
- Flooring: Laminate, Carpet
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 42
- Parking features: Open
- Uncovered spaces: 42
Features
- Patio & porch: Laminate
Lot
- Size: 0.48 Acres
- Features: Deck
Details
- Parcel number: 36334.3222
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Metal/Vinyl, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1973
- Major remodel year: 1973
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Subdivision: Spokane
Location
- Region: Spokane
Financial & listing details
- Annual tax amount: $19,310
- Date on market: 4/24/2025
- Cumulative days on market: 454 days
- Listing terms: Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 5/22/2025 | Pending sale | $2,100,000+13.5% |
Source:  NWMLS as distributed by MLS GRID #2339949 Report a problem | ||
| 5/19/2025 | Sold | $1,850,000-11.9% |
Source: NWMLS as distributed by MLS GRID #2339949 Report a problem | ||
| 3/28/2025 | Contingent | $2,100,000 |
Source: NWMLS as distributed by MLS GRID #2339949 Report a problem | ||
| 3/8/2025 | Listed for sale | $2,100,000 |
Source: NWMLS as distributed by MLS GRID #2339949 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: Hillyard
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Nearby schools
GreatSchools rating
- 2/10Regal Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 2/10Shaw Middle SchoolGrades: 6-8Distance: 0.4 mi
- 3/10Rogers High SchoolGrades: 9-12Distance: 0.8 mi
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$1,838,300
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$1,875,066
- Washington
- Spokane County
- Spokane
- 99217
- Hillyard
- 4822 N Nelson Street
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