Fiveplex Apartment Building with Development
New
For Sale
$469,900
518 S Elm St, Spokane, WA 99201
Commercial Sale, Spokane, WA
Property Size6,500 SF
Lot Size0.07 Acres
Price / SF$72.29
Days on Market7
Property Features for 518 S Elm St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTG
Basement
Finished, Full
Lot features
Fenced Yard, Level, Open Lot
View
City
Elementary school
Roosevelt
Middle school
Sacajawea
High school
Lewis & Clark
Elementary school district
Spokane Dist 81
Directions
From I-90 take Exit 280A Maple Street. Continue south on Maple St toward downtown ,turn onto W 3 Ave, then turn onto S Elm St. Use GPS
Standard status
Active
APN
25241.4717
Size
6,500 SF
Lot size
0.07 Acres
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1901
Floors in Building
2
Building materials
Brick Veneer, Siding
Roof type
Composition
Listing Agency:
Kelly Right Real Estate of Spokane
(509) 489-7000
Listed By:
Alena Kanifolsky
(509) 489-7000
Added: Aug 20
Changed: Aug 25
Last Checked: Aug 26 at 4:06AM
MLS# 202622933
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.
Investment Insights
Based on property information with market context.
This three-parcel assemblage includes a fiveplex with approximately 6,500 square feet of living area and additional land for future development. The 1901 building has brick veneer and siding construction, a composition roof, and electric baseboard heating. Fire damage affects the property: the third floor has moderate damage concentrated primarily at the roof, the middle floor is gutted to the shell, and the bottom floor needs minor repairs but remains livable.
Zoned DTG, the property supports a range of stated development concepts, including residential, office, retail, warehouse, and other mixed-use space. Existing infrastructure includes overhead power, a 1-inch water line, and a 6-inch concrete sewer conduit stub. That infrastructure is described as supporting up to 12 units, with potential capacity for up to 24 units. The foundation is 93 inches tall and 8 inches thick.
Zoned DTG, the property supports a range of stated development concepts, including residential, office, retail, warehouse, and other mixed-use space. Existing infrastructure includes overhead power, a 1-inch water line, and a 6-inch concrete sewer conduit stub. That infrastructure is described as supporting up to 12 units, with potential capacity for up to 24 units. The foundation is 93 inches tall and 8 inches thick.
Key Highlights
- Three‑parcel assemblage totaling 13,336 sq ft
- Existing fiveplex with approximately 6,500 square feet of living area
- DTG zoning allows residential, office, retail, warehouse, and other mixed‑use opportunities
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - DTG-zoned three-parcel property combines an existing apartment building with mixed-use redevelopment capacity.
Where is this apartment building located?
The property is located at 518 S Elm St Spokane, WA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Three‑parcel assemblage totaling 13,336 sq ft; Existing fiveplex with approximately 6,500 square feet of living area; DTG zoning allows residential, office, retail, warehouse, and other mixed‑use opportunities
