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For sale
Single family properties
WA
Spokane
99207
1217 E Indiana Ave

Gonzaga Investment Property Near Campus

1217 E Indiana Ave, Spokane, WA 99207

View on Map

For Sale

$349,000

MULTI_FAMILY - Bungalow - Spokane, WA

Property size:

1,974 SF

Lot size:

0.15 Acres

Price / SF:

$176/SF

HighLights

Leased for the 2026‑2027 school year, providing immediate income.
Located blocks from Gonzaga University, ensuring consistent rental demand.
Generates $1,950/month in gross rent.
Features a spacious primary suite with a 5‑piece en suite bathroom.
Includes a detached 2‑car garage.
Recent updates include newer appliances.

We can help!

Contact an agent

Holly Stockton

For Sale

$349,000

MULTI_FAMILY - Bungalow - Spokane, WA

Property size:

1,974 SF

Lot size:

0.15 Acres

Price / SF:

$176/SF

Added:: May 6, 2026
Days on Market:: 65
Last Refresh:: Jul 9 at 4:06 am

Property Features for 1217 E Indiana Ave

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 2
Rooms: Bathroom 2, Laundry Room, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Utility Room, Bedroom 4
Parking features: Alley
Window features: Vinyl Frames
Patio and Porch features: Deck
Basement: Partial
Appliances: Free-Standing Range, Dishwasher, Refrigerator, Microwave, Washer, Dryer
Standard status: Active
APN: 35084.2211
Size: 1,974 SF
Lot size: 0.15 Acres

Utilities

Heating system: Natural Gas, Forced Air

Building Details

Year built: 1907
Number of units: 1
Building materials: Masonite, Vinyl Siding
Roof type: Composition
Architectural style: Bungalow

We can help!

Contact an agent

Holly Stockton

Listing agent Holly Stockton License #140106

Listing office eXp Realty, LLC 601 W 1st Ave Ste 1400, Seattle, WA

Listing date May 6, 2026

MLS# 202616846 Listing URL

Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HighLights

Leased for the 2026‑2027 school year, providing immediate income.
Located blocks from Gonzaga University, ensuring consistent rental demand.
Generates $1,950/month in gross rent.
Features a spacious primary suite with a 5‑piece en suite bathroom.
Includes a detached 2‑car garage.
Recent updates include newer appliances.

Overview

This investment property, leased for the 2026-2027 school year, is located blocks from Gonzaga University. The property features 4 bedrooms and 2 bathrooms. Recent updates include newer appliances and a spacious primary suite with a 5-piece en suite bathroom. The home offers functional living spaces designed for student housing. The property includes a sprinkler system and a detached 2-car garage. Currently generating $1,950 per month in gross rent, this property offers investors an opportunity to expand their portfolio in one of Spokane's consistent rental markets. The property size is 1,974 square feet and the lot size is 0.1467 acres.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$38.1k	$19.32
− Vacancy	−$2.4k	−$1.24
EGI	$35.7k	$18.08
− OpEx	−$16.1k	−$8.14
NOI	$19.6k	$9.95

1,974 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$280.5K

$245.4K – $327.2K (±1% cap)

NOI $19,633 @ 7.0% cap · market cap 5.63%

Second Best

—

no second resolved use

Theoretical Best

Office A

$509.3K

$445.6K – $594.2K (±1% cap)

NOI $35,650 @ 7.0% cap · market cap 10.21%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Single family properties

Suggested Use

Location Insight

Map
Local Demand

City: Spokane
County: Spokane
State: Washington
Longitude: -117.391167
Latitude: 47.67503

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For sale
Single family properties
WA
Spokane
99207
1217 E Indiana Ave

What type of property is this?

Single family property - Investment property near Gonzaga University with immediate income potential.

Where is this single family property located?

The property is located at 1217 E Indiana Ave Spokane, WA.

What is the asking price?

The asking price for this property is $349,000.

What are key features of this property?

This property features: Leased for the 2026‑2027 school year, providing immediate income.; Located blocks from Gonzaga University, ensuring consistent rental demand.; Generates $1,950/month in gross rent.

1217 E Indiana Ave, Spokane, WA 99207

MULTI_FAMILY - Bungalow - Spokane, WA

Property Features for 1217 E Indiana Ave

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Spokane Commercial Property For Sale

Newer Duplex with Attached Garage

Spokane 10-Unit Apartment Building

Turnkey Fourplex with Updated Exterior

Spokane Duplex: Investment Opportunity

Renovated Multifamily Property

Brand-New Duplex With Private Garages

New Duplex Near Downtown Spokane

Industrial Warehouse with Office

Ranch Triplex with Detached Garages

2016-Built Duplex Townhouse Units

South Hill Adult Family Home

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