Apartment Building with Mini
For Sale
$1,350,000
Pending
3004 E Boone Ave, Spokane, WA 99202
MultiFamily, Multi Level, Spokane, WA
Property Size9,294 SF
Lot Size0.43 Acres
Days on Market146
Property Features for 3004 E Boone Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LI
Bedrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Basement, Bathroom 2, Bedroom 7, Bathroom 6, Bedroom 6, Bathroom 1, Bedroom 8, Bathroom 7, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 8, Bathroom 4, Bathroom 5, Bedroom 2
Subdivision
Spokane
Lot features
Level
Directions
From I-90, take exit 282 toward Hamilton St. Head north, turn right on E Boone Ave, and continue past Erie St. The destination will be on your right, near the Gonzaga University campus.
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
Legal Description
EAST SIDE SYNDICATE LOTS 4, 5 & 6 BLK 161
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
common laundry room
secured gated entrance
Building Details
Year built
1976
Number of units
36
Building materials
Concrete
Roof type
Concrete, Tile, Aluminum
Architectural style
Other
Listing Agency:
SVN Cornerstone Commercial
(509) 321-2000
Listed By:
Jordan Lester · License #1271842
(509) 496-6922
Added: May 18
Changed: Oct 8
Last Checked: Oct 10 at 8:06AM
MLS# 26-5058
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.
This 9,294-square-foot property combines eight one-bedroom, one-bathroom apartments with 28 mini storage units on 0.43 acres. Five apartments have been remodeled, and the residential portion includes a shared laundry room equipped with two washers and two dryers. Apartment tenants have 10 on-site parking spaces, with additional street parking available. The storage area is accessed through a secured gate.
Built in 1976, the building has concrete construction, electric heating, public water, public sewer, and tile, aluminum, and concrete roof components. The property is located at 3004 E Boone Ave in Spokane’s Chief Garry Park neighborhood. The apartment units are currently 100% occupied, while the apartment and storage components provide two distinct operating uses within one property.
Built in 1976, the building has concrete construction, electric heating, public water, public sewer, and tile, aluminum, and concrete roof components. The property is located at 3004 E Boone Ave in Spokane’s Chief Garry Park neighborhood. The apartment units are currently 100% occupied, while the apartment and storage components provide two distinct operating uses within one property.
Key Highlights
- Eight one‑bedroom, one‑bathroom apartment units
- 28 mini storage units with secured gated access
- Five apartment units recently remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,438
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,760
$1.8M
Cap Rate 7%
$1,320,543
$1.3M
Cap Rate 9%
$1,027,089
$1.0M
Market Conditions
NOI Build-Up for 9,294 SF
Gross rent
$179.6K $19.32/SF
− Vacancy
−$11.5K −$1.24/SF
EGI
$168.1K $18.08/SF
− OpEx
−$75.6K −$8.14/SF
NOI
$92.4K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,760
Cap Rate 7%
$1,320,543
Cap Rate 9%
$1,027,089
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,438 @ 7.0% cap · market cap 6.85%
Second Best
Self Storage
$1.19M
$1.04M – $1.38M
NOI $83,047 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,850 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed apartment and mini storage property with remodeled units, shared laundry, parking, and gated storage access.
Where is this apartment building located?
The property is located at 3004 E Boone Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Eight one‑bedroom, one‑bathroom apartment units; 28 mini storage units with secured gated access; Five apartment units recently remodeled
