Active
5 beds
5703 S Thomas Mallen Rd, Spokane, WA 99224
Est: $6,655/moGet pre-approved
Single FamilyProperty Type
4.42 acresLot Size
1948Year Built
2 carsParking Spaces

Description

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...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.
27 days on Market
  • Listed by: Chelsey Graves 509.429.9562 chelseytherealtor@gmail.com • Avalon 24 Real Estate
Last updated: 08/24/2026 08:01 AM • Source: SPOKANEMLS, MLS#: 202622726

Location

Listing Courtesy of Avalon 24 Real Estate
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$6,655 per month

30 year fixed, 6.71% Interest

Principal and Interest

$6,201

Property Taxes

$454

HOA Dues

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Property Information for 5703 South Thomas Mallen Road

Property Details
  • MLS Type: Residential / Single Family Residence
  • Parking Features: Attached, Slab, RV Access/Parking, Off Site
  • Architectural Style: Ranch
  • Zoning: LI
Building Information
  • Stories: 1
  • Year Built: 1948
  • Lot Size: 4.42 AC / 192,535 SF
Summary
Location and General Information
  • County Or Parish: Spokane
  • Longitude: -117.54
  • Other Structures: Hay
  • New Construction: No
  • Class: Residential
  • Latitude: 47.60
Taxes and HOA
  • Additional Parcels: No
  • Association: No
  • Parcel Number: 24053.9031
Parking
  • Garage Spaces: 2.00
School Information
  • Middle Or Junior School: Westwood
Property
Lot Information
  • Lot Features: Fenced Yard, Treed, Level, Corner Lot, Legal Non-Conforming, Horses Allowed
  • Lot Size Acres: 4.42
  • Lot Size Square Feet: 192535.0
Property and Assessments
  • Construction Materials: Vinyl Siding
  • Senior Community: No
  • 1031 Exchange: No
  • FIPS: 53063
  • Year Built: 1948
  • First Photo Additional Detail: 2026-08-17T18:30:36.8
Utilities
  • High Speed Internet: Yes
Interior and Exterior Features
Exterior Features
  • Area: A420/092
  • Structure Type: One Story
  • Road Frontage Type: City Street, Paved Road
  • Roof: Composition
Interior Features
  • Heating: Electric, Heat Pump, Ductless
  • Appliances: Free-Standing Range, Dishwasher, Refrigerator, Disposal, Microwave
  • Basement: Crawl Space, Slab
  • Stories: 1
  • Cooling: Wall Unit(s)
  • Flooring: Wood
  • Window Features: Vinyl Frames
Room Information
Bedrooms
  • Bedrooms Total: 5
  • Primary Bed Room: 1st Flr
Bathrooms
  • Bathrooms Total Integer: 2
Dining Room
  • Dining Room Features: Informal,Kit Eat Sp
Family Room
  • Family/Recreation Room Features: 1st Flr
Room 1
  • Room Area: 1656.0
  • Room Area Units: Square Feet
  • Room Level: First
  • Room Type: First Floor
Room 2
  • Room Area: 1200.0
  • Room Area Units: Square Feet
  • Room Level: 1200
  • Room Type: Accessory Dwelling Unit
Rental
Rental Information
  • Occupant Type: Tenant

Property History for 5703 South Thomas Mallen Road

DateEvent & SourcePriceAppreciation
Aug 17, 2026

Listed (Active)

SPOKANEMLS #202622727

$1,200,000
Aug 17, 2026

Listed (Active)

SPOKANEMLS #202622726

$1,200,000
Nov 2, 2025

Temporarily Off Market

SPOKANEMLS #24014873

DateEvent & SourcePrice
08/17/2026

Listed (Active)

SPOKANEMLS #202622727

$1,200,000
08/17/2026

Listed (Active)

SPOKANEMLS #202622726

$1,200,000
11/02/2025

Temporarily Off Market

SPOKANEMLS #24014873

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 5703 South Thomas Mallen Road

Taxable ValueLand$142,880Additions$420,100Total$562,980
Tax Record2026$5,442 ($454 / month)
Home Facts
Beds6Baths4Total Finished SqFt2,856 SqFtAbove Ground SqFt2,856 SqFtStories1Lot Size192,535 SqFtStyleSingle Family ResidenceYear Built1948Year Renovated2021ZoningLICountySPOKANEAPN24053.9031

Schools near 5703 South Thomas Mallen Road

This home is within Cheney School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Phil Snowdon Elementary
PublicPK to 5

Westwood Middle School
Public6 to 8

Cheney High School
Public9 to 12

Cheney Open Doors
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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5703 South Thomas Mallen Road is a single family home for sale in Spokane, WA 99224. This property was listed for sale on August 17, 2026 by Avalon 24 Real Estate, it's currently listed at $1,200,000. It has been on the market for a total of 27 days and was last sold on October 14, 2021. This listing's school district is Cheney School District. Nearby schools include Phil Snowdon Elementary, Westwood Middle School and Cheney High School. 5703 South Thomas Mallen Road is a 5-bed, 2-bath single family home built in 1948.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Avalon 24 Real Estate

Based on information submitted to the MLS GRID as of 08/24/2026 08:01 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.