3004 E Boone Ave Spokane, WA 99202
MULTI_FAMILY - Spokane, WA
Property Features for 3004 E Boone Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- LI
- Bedrooms
- 8
- Rooms
- Bedroom 7, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 7, Bedroom 4, Bathroom 2, Bathroom 8, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 1, Bathroom 6, Bedroom 3, Bathroom 5, Basement, Bedroom 5
- Standard status
- Pending
- APN
- 35152.1612
- Size
- 9,294 SF
- Lot size
- 0.43 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- EAST SIDE SYNDICATE LOTS 4, 5 & 6 BLK 161
- Tax Annual Amount
- 13718
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1976
- Number of units
- 36
- Building materials
- Concrete
- Roof type
- Aluminum, Tile, Concrete
- Architectural style
- Other
Listing agent Jordan Lester License #1271842 (509) 496-6922
Listing office SVN Cornerstone Commercial 1311 N Washington, Spokane, WA (509) 321-2000
Listing date May 18, 2026
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The asset is located at 3004 E Boone Ave in Spokane’s Chief Garry Park neighborhood, in a LI zoning designation. Set on approximately 0.43 acres, the property is positioned to support a combined residential income setup alongside self-storage use.
For tenants, the apartments provide in-building shared laundry and dedicated parking, while the storage facilities include controlled, locked gate access. For buyers and operators seeking a single-site arrangement, the combination of apartment units and mini storage units creates an opportunity to diversify income streams within one property. The apartment portion is described as 100% occupied, supporting continuity of residential occupancy at the time of listing.
Key Highlights
- Boone Apartments and Mini Storage at 3004 E Boone Ave in Spokane’s Chief Garry Park neighborhood
- Eight 1 bed, 1 bath apartment units—5 recently remodeled—with 100% occupancy
- 28 mini storage units with a secured, gated entrance and locked gate for added security
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $179.6k | $19.32 |
| − Vacancy | −$11.5k | −$1.24 |
| EGI | $168.1k | $18.08 |
| − OpEx | −$75.6k | −$8.14 |
| NOI | $92.4k | $9.95 |
