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5703 S Thomas Mallen Rd - Photo 1
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$1,200,000

32 days
Residential Income|Built 1948
Joey Costello

Joey Costello

Windermere North Spokane

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About This Home

Exceptional investment and development opportunity on ±4.42 acres of Light Industrial-zoned land in a prime Spokane location with quick, convenient access to I-90. This versatile property offers the rare combination of immediate rental income and outstanding future development potential. Two updated residential homes are currently leased, generating $4,600 per month with the opportunity for immediate rent increases. The homes include a 5-bedroom, 2-bath residence with approximately 1,656 square feet and a 4-bedroom, 2-bath residence with approximately 1,200 square feet. Continue collecting rental income while planning your next commercial or industrial project. The Light Industrial zoning supports a variety of business and development opportunities, making this an ideal investment for developers, owner-users, or investors seeking long-term upside. Rarely does a property offer this combination of income, flexibility, desirable zoning, and a highly accessible location.

Property Details

Property Type

Residential Income

Year Built

1948

County

Spokane

Lot Size

4.42 acres

Garage

2-car

Schools

Elementary: Cheney, Middle: Westwood, High: Cheney

Days on Market

32 days

MLS #

SAR202622727

Parcel #

24053.9031

MLS Area

A420/092

MLS Class

Rental Income

Listing Terms

Conventional, Cash, Commercial

Road Frontage

City Street, Paved Road

Listed On

Aug 17, 2026

Status Changed

Aug 24, 2026

Last MLS Update

Aug 24, 2026

MLS Branch

1195

School Information

Elementary

Cheney

Middle School

Westwood

High School

Cheney

Home Features & Details

Architectural Style

Ranch

Construction

Vinyl Siding

Structure Type

One Story

Roof

Composition

Basement

Crawl SpaceSlab

Flooring

Wood

Windows

Vinyl Frames

Heating

ElectricHeat PumpDuctless

Cooling

Wall Unit(s)

Appliances

Free-Standing RangeDishwasherRefrigeratorDisposalMicrowave

Patio & Porch

Patio

Parking

AttachedSlabRV Access/ParkingOff Site

Lot Features

Fenced YardTreedLegal Non-ConformingHorses Allowed

Other Structures

Stge Shd

Listed By

Chelsey Graves

Avalon 24 Real Estate

Estimated Monthly Payment

$6,500/mo

Estimated at 6.5% APR, 30-year fixed. For informational purposes only.

Property Highlights

Year Built1948
Lot Size4.42 acres
StatusActive

Location

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