5634 E Commerce Ave
A classic 1913 brick landmark in Spokane, the Parkwater Schoolhouse has been reimagined as a distinctive apartment building with room to grow. This two-story former school—once a brewery and later a beloved winery—now features four renovated residential apartments and a shared laundry room for tenants. Zoned GC-70, the property includes two large main-floor spaces with strong potential to be converted into up to four additional apartments. Situated on a prominent corner lot, the 8,832 sq ft building sits on over half an acre and offers 25 parking spaces. The full unfinished basement includes a conveyor belt and loading dock, offering further potential for storage, creative reuse, or development. Full of historic character and investment upside, the Parkwater Schoolhouse presents a rare opportunity to expand a residential income property in a truly one-of-a-kind setting.
A 1913 brick schoolhouse turned four-unit income property on a corner half-acre
The former Parkwater Schoolhouse packs 8,832 square feet into four renovated apartments with shared laundry, listed at $675,000, or about $76 per square foot. GC-70 zoning and two large main-floor spaces leave room to add up to four more units, and the full unfinished basement, with a loading dock and conveyor belt still in place, offers storage or reuse space. Parking is unusually generous for the era, with 25 spaces on a prominent corner lot spanning over half an acre. Heating runs on natural gas and electric, and annual taxes sit near $5,136. Built in 1913, the building has served as a brewery and a winery before its current residential use.
Your point of contact
Listed by Marianne Bornhoft, REAL Broker LLC · 360-810-5696
What's included
Appliances
- Refrigerator
- Washer
- Dryer
Heating
- Natural Gas
- Electric
Costs of ownership
- Annual taxes
- $5,136
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- Principal & interest
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- Property taxes
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- Insurance
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- HOA
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Estimates only — excludes PMI and utilities; your lender's numbers govern. Taxes prefilled from the listing record.
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Information provided by Spokane Association of REALTORS®. Listings deemed reliable but not guaranteed. Buyer is responsible for verifying all material facts (square footage, lot size, zoning, school assignments, HOA dues, taxes). Not legal, tax, financial, or appraisal advice — consult the relevant professional.