1413 E 2nd Ave, Spokane, WA 99202

This outstanding multifamily development opportunity consists of four contiguous parcels zoned for multifamily residential, offering the potential to develop up to 31 apartment units (buyer to verify). The level site provides an efficient building footprint, with utilities available nearby, allowing developers flexibility in planning infrastructure improvements. An existing single-family home on the property offers the opportunity to generate rental income during the entitlement and planning process, helping offset holding costs while preserving future development potential. The configuration of the parcels also provides flexibility to develop only two parcels initially while retaining the remaining parcels for future phases or continued income-producing use.

Located within a Qualified Opportunity Zone, the property may benefit from a variety of economic development incentives, including Qualified Opportunity Zone (QOZ) tax advantages, Multifamily Property Tax Exemption (MFTE) eligibility, and potential Low-Income Housing Tax Credit (LIHTC) opportunities, subject to program requirements and approvals. Combining favorable zoning, phased development flexibility, income potential during the holding period, and valuable tax incentives, this property presents a compelling opportunity to capitalize on Spokane's continued demand for multifamily housing.