Downtown Homes under $500,000

Downtown Homes under $500,000

Welcome to Downtown Spokane, Washington—a vibrant urban hub that perfectly blends historic charm with modern amenities. Nestled along the banks of the Spokane River, this thriving downtown area is known for its stunning architecture, bustling cultural scene, and a wealth of recreational opportunities. From the iconic Riverfront Park to the quaint shops lining the streets, Downtown Spokane offers a unique lifestyle that caters to both families and young professionals alike.

If you’re searching for your dream home in this dynamic area, you’ll be delighted to discover a variety of homes available for under $500,000. Whether you’re looking for a cozy condo with breathtaking river views or a charming bungalow with easy access to local cafes and boutiques, Downtown Spokane has something for everyone. The real estate market here is diverse, featuring properties that reflect the region's rich history while also embracing contemporary design.

Living in Downtown Spokane means you’ll enjoy a walkable lifestyle, with an array of restaurants, art galleries, and theaters just steps from your front door. The community is known for its friendly atmosphere, making it easy to connect with neighbors and immerse yourself in local events. Plus, with easy access to public transportation and major highways, commuting to nearby areas is a breeze.

With homes under $500,000, Downtown Spokane offers an incredible opportunity to invest in a thriving community without breaking the bank. Come explore the possibilities and discover why so many are choosing to call this enchanting area home!

Newest Downtown Homes under $500,000

1721 W Main Ave, Spokane
$360,000
3 Beds ⋅ 1 Baths ⋅ 202625297 MLS
Investment opportunity! Here is your chance to live and/or build in historic, artistic Peaceful Valley! This 3 bedroom, 1 bath home awaits your vision and creativity. With a newer roof, high efficiency furnace and new windows already there, you can do the cosmetic upgrades and reap the rewards. The main floor features an open concept floor plan, bedroom, bathroom, wood flooring, convenient main floor laundry area, and a masonry wood-burning fireplace. Upstairs, you'll find two bedrooms with wood flooring and abundant windows boasting territorial views. The fenced backyard features a wood deck, tiki bar area, and hot tub. The home is also offered in a duplicate listing that includes the lot next door, 1725 W. Main, at $485K. Call for a showing today!

1721 W Main Ave, Spokane
315 W Riverside Ave, Spokane
$379,900
2 Beds ⋅ 1 Baths ⋅ 202624809 MLS
Centrally located turn-key loft condo in the heart of Spokane. Ready for the next owner, this is one of the larger units in the Morgan Building at 1575 sq ft., it's a blank canvas awaiting a new owner's style. This unit has TWO bedrooms, it's bright and clean with great views and access to all downtown has to offer.....food, entertainment, and shopping. HOA dues cover water, sewer, garbage, gas, and electricity. Ground-level parking garage with a designated parking space and garage opener. Basement storage space for seasonal goods and more.

315 W Riverside Ave, Spokane
639 N Riverpoint Blvd, Spokane
$300,000
1 Beds ⋅ 1 Baths ⋅ 202624471 MLS
Don't miss this one-bedroom condo at Riverpoint Village, right in the U-District and an easy walk to Gonzaga, Eastern Washington University, and the WSU medical campus. Whether you're settling in as an owner-occupant or picking it up as an investment, this location keeps demand strong year-round from students and medical program staff. Hardwood floors run throughout, and the walk-in closet gives you real storage, not just a nook. Step out onto the private balcony for morning coffee looking over green space, then come back after dark for a view of the Spokane Pavilion lit up. The stacked washer and dryer mean no trips to a shared laundry room. You're minutes from the Centennial Trail for a morning run, the Spokane River, and downtown Spokane's restaurants and shops. Good fit for an owner-occupant, a parent buying for a student, or an investor eyeing steady U-District rental demand.

639 N Riverpoint Blvd, Spokane
172 S Coeur D'Alene G302 St, Spokane
$350,000
2 Beds ⋅ 2 Baths ⋅ 202624046 MLS
Stunning 2-bedroom, 2-bathroom top-floor, northern-most condo located in The Ridge! From your private balcony, take in breathtaking views of the Spokane River, brought inside through an oversized sliding door that floods the home with natural light. The spacious living room features a cozy gas fireplace that sets the perfect ambiance. The kitchen offers plenty of counter space, abundant storage, and stainless steel appliances! The expansive master bedroom boasts its own stunning views, a peaceful retreat complemented by an attached ensuite bath. As a resident of The Ridge, you’ll enjoy meticulously maintained landscaping, a sparkling outdoor pool, and a welcoming clubhouse. Located near scenic biking and hiking trails, several local parks, and a variety of dining and shopping options, this condo offers an exceptional blend of natural beauty and urban convenience.

172 S Coeur D'Alene G302 St, Spokane
438 S Coeur D'Alene St, Spokane
$480,000
2 Beds ⋅ 2 Baths ⋅ 202623682 MLS
This condo has it all! Amazing views, high ceilings, abundant natural light, all new appliances, gated entry, secure heated parking garage with 45 sq ft heated storage unit, massive primary bedroom, oh and did I mention the views? This condo home is the epitome of comfort, style, and accessibility. 2 bedroom 2 bath, large laundry room, open format kitchen, dining area, living room with a wall of windows and lots of built in storage. The spacious kitchen has new Bosch and LG SS appliances, a walk in pantry, and a long dining peninsula. There is a large deck off the dining area that steps right into nature and has a lovely view of the Sunset Hill bridge and Latah creek. Wait there's more, no step option from parking garage to front door, 36" doors, 42" hallways, and low barrier shower access. The modest $330/mo HOA covers water, sewer, garbage, exterior of building, landscaping, and snow removal. This 6 unit property was built as a condo, not a conversion, with double wall construction.

438 S Coeur D'Alene St, Spokane
514 W 1st Ave, Spokane
$240,000
3 Beds ⋅ 9 Baths ⋅ 202623561 MLS
Rare opportunity to own a collection of condominium shell units on the 12th floor of the historic Ridpath building in the heart of Downtown Spokane! This unique offering includes six approx. 220 sq. ft. east and west-facing units ideal for efficient studio-style living, one approx. 620 sq. ft. west-facing unit, and two desirable south corner units at approx. 500 sq. ft. each with added natural light and incredible city views. Bring your vision and transform these spaces into rental dwellings, urban residences, or combine units to create larger custom floor plans to fit your investment strategy. Located on the 12th floor with elevator access, these units offer outstanding redevelopment potential in one of Spokane’s most iconic historic buildings. Enjoy close proximity to restaurants, shopping, entertainment, nightlife, coffee shops, and everything Downtown Spokane has to offer. A rare investment opportunity with flexibility and upside potential in an unbeatable urban location. Worth checking out!

514 W 1st Ave, Spokane
514 W 1st Ave, Spokane
$210,000
202623560 MLS
Create your dream penthouse in the historic Ridpath building in the heart of Downtown Spokane! Located on the private 13th floor, this top-floor penthouse shell is ready for a creative buyer to bring their vision to life. Offering approx. 980 sq. ft. of open space, the unit features soaring ceilings, a stunning wall of west-facing windows showcasing incredible natural light and city views, plus a skylight adding to the bright and airy feel. Design your own custom urban retreat, luxury loft, or executive residence in one of Spokane’s most iconic historic buildings. Secure elevator access leads to the private penthouse level, and the unit includes two secured parking spaces—an incredible downtown amenity. Enjoy being just steps from restaurants, entertainment, shopping, coffee shops, nightlife, and all Downtown Spokane has to offer. A truly unique opportunity with endless potential. Worth checking out!

514 W 1st Ave, Spokane
2425 W Pacific Ave, Spokane
$155,000
1 Beds ⋅ 1 Baths ⋅ 202623476 MLS
Warm & inviting lower-level condo offering comfort, style & smart living in one beautifully updated space. This 1-bed, 1-bath unit features a spacious open living area with warm designer tones, soft lighting & an easy-flow layout perfect for relaxing or entertaining. The generous bedroom includes a large walk-in closet, creating a peaceful retreat with everyday functionality. Thoughtfully updated finishes blend modern comfort with timeless character throughout. Enjoy quiet mornings with coffee or unwind after work in this cozy, low-maintenance home. Located just minutes from Coeur d'Alene Park, Kendall Yards, local restaurants, breweries & the Northwest Museum of Arts & Culture, this condo offers the perfect mix of neighborhood charm & urban convenience. Ideal for investors, traveling professionals, or anyone seeking an easy Spokane lifestyle in a historic setting.

2425 W Pacific Ave, Spokane
2425 W Pacific Ave, Spokane
$455,000
2 Beds ⋅ 3 Baths ⋅ 202623434 MLS
Discover the perfect blend of historic character & modern opportunity*This stunning condominium is the main floor residence of a stately 1898 Craftsman home! Step inside to find rich hardwoods, charming curved doorways and gorgeous oak floors*The updated kitchen & bathrooms provide contemporary comfort w/o sacrificing style*Enjoy morning coffee on the grand wrap-around porch or host friends before walking to your choice of restaurants like The Elk, Italia Trattoria, Pacific Pizza, El Que & Browne's Bistro*Live comfortably in the spacious 2-bed, 2.5-bath main unit and house a tenant in the 1-bed, 1-bath lower-level condo (sold separately for $160,000), to help pay your mortgage! This isn’t just a home; it’s a lifestyle & an investment. With a rare 2-car garage, in-unit laundry, and a quiet and beautiful location just blocks from historic Coeur d'Alene Park, The MAC and the Campbell House and barely over a mile to downtown and Riverfront Park.

2425 W Pacific Ave, Spokane
1221 Railroad Aly, Spokane
$374,500
2 Beds ⋅ 2 Baths ⋅ 202623361 MLS
Discover elevated urban living in the heart of downtown Spokane at the iconic Blue Chip Lofts. This impeccably maintained upper floor 2 bedroom, 2 bath residence pairs industrial character with sophisticated modern style, showcasing soaring ceilings, exposed beams, original brick, floor to ceiling windows & a skylight that floods the space with natural light. The sleek kitchen features granite countertops, newer stainless appliances, gas range & designer lighting & California Closets adds exceptional organization. Enjoy main level laundry with newer washer and dryer, a private balcony for morning coffee or evening grilling, secure entry, dedicated 1 car garage parking & personal storage. The newer HVAC adds energy efficient comfort! Enjoy a beautifully maintained courtyard & premier walkable location to dining, coffee, breweries, wine tasting, shopping, parks, Fox Theater, Knitting Factory & more just outside your door. Come home to a vibrant city, step outside to everything & live where Spokane comes alive!

1221 Railroad Aly, Spokane
1721 W Main Ave, Spokane
$485,000
3 Beds ⋅ 1 Baths ⋅ 202623242 MLS
Investment opportunity! Here is your chance to live and/or build in historic, artistic Peaceful Valley! This 3 bedroom, 1 bath home awaits your vision and creativity. With a newer roof, high efficiency furnace and new windows already there, you can do the cosmetic upgrades and reap the rewards. The main floor features an open concept floor plan, bedroom, bathroom, wood flooring, convenient main floor laundry area, and a masonry wood-burning fireplace. Upstairs, you'll find two bedrooms with wood flooring and abundant windows boasting territorial views. The fenced backyard features a wood deck, tiki bar area, and hot tub. The lot next door at 1725 W. Main is included with the sale, so you can build an additional dwelling, shop, or create your outdoor dream space. Call for a showing today!

1721 W Main Ave, Spokane
315 W Riverside Ave, Spokane
$369,500
1 Beds ⋅ 1 Baths ⋅ 202623184 MLS
Imagine walking downtown, enjoying Riverfront Park, dining, shopping—and leaving your car tucked safely in the garage. This nearly 1,600 SF Morgan Lofts condo offers an easy lock-and-leave lifestyle with secure parking, storage, and pets allowed. No short-term rentals. Rare 5th-floor location with expansive windows and great east and south views. The spacious bedroom could easily be reconfigured for a 2nd bedroom, office, or flex space. The kitchen features a large island, granite counters, stainless appliances, and hardwood floors. In-unit laundry adds convenience. HOA dues cover water, sewer, garbage, gas, and electricity. Assigned secure garage parking and a storage unit are included. Downtown living doesn't get much easier—or more fun!

315 W Riverside Ave, Spokane
Start Your Search

Listings last updated . All information provided is deemed reliable but is not guaranteed and should be independently verified.