For sale Home

Listed Aug 17, 2026

$1,200,000 Est. $7,937/mo

5703 South Thomas Mallen Road

  • 5

    Beds

  • 2

    Baths

The story

  • Basement

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.

Facts & features

Home type

Home

Year built

1948

Floors

1

Lot size

4 acres

Parking

2-car garage

Included features

  • Basement

    Yes

  • Cooling

    Wall Unit(s)

  • Heating

    Electric, Heat Pump, Ductless

  • Appliances

    Free-Standing Range, Dishwasher, Refrigerator, Disposal, Microwave

  • Flooring

    Wood

  • Roof

    Composition

  • Lot Information

    Fenced Yard, Treed, Level, Corner Lot, Legal Non-Conforming, Horses Allowed

Mortgage calculator

Estimated monthly payment

$7,937 /mo

7% rate · 30-yr fixed · 20% down

  • Principal & interest $6,387
  • Property tax $1,200
  • Insurance $350

Includes principal, interest, taxes & insurance.

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Listing Broker

Avalon 24 Real Estate

Broker Name

Avalon 24 Real Estate