Property Details

3123 E Carlisle Ave

Spokane, WA 99207

$910,000

Available

CBA# 713445 courtesy of CBA Listing firm: The Paragon Group

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Commercial

Property Type

5,250

Bldg Sq Ft

Units

6.00%

Cap Rate

1979

Year Built

Property Overview

3123-3125 E Carlisle Ave is a fully renovated and 100% occupied 7-unit multifamily property in Spokane. The property features a uniform two-bedroom, one-bathroom unit mix, providing operational simplicity and broad tenant appeal. With updated interiors, stabilized occupancy, and limited near-term capital needs, the asset offers immediate cash flow supported by straightforward day-to-day operations.The property is located in a tight residential pocket of east Spokane with convenient access to nearby employment, education, transportation, and recreation drivers. Tenants benefit from proximity to grocery stores, dining, parks, public transit, and major arterials, while investors benefit from a concentrated comp set supported by recent sales, new construction, and active investment within the immediate area. This localized momentum helps distinguish the property from the broader Southeast Spokane market and reinforces demand for well-maintained rental housing in the submarket.As Spokane continues to grow, the area surrounding E Carlisle Ave is positioned to benefit from ongoing infrastructure improvements, including the continued development of the North-South Corridor. The combination of full occupancy, updated condition, straightforward two-bedroom floorplans, and remaining upside through rent adjustments and utility reimbursement creates a durable small-balance multifamily opportunity.