1115 1st St Cheney, WA 99004
MULTI_FAMILY - Cheney, WA
- Added:
- Jul 11, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 12 at 3:06 am
Property Features for 1115 1st St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Comm
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
- Parking
- 20
- Parking features
- Assigned, Offsite
- Standard status
- Active
- APN
- 13131.0506
- Size
- 9,600 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12673
Utilities
- Heating system
- Baseboard, Electric (Heating)
Building Details
- Year built
- 1970
- Number of units
- 11
- Building materials
- Brick, Vinyl Siding
- Roof type
- Composition
Listing agent Nicole Page (509) 458-4000
Listing office Keller Williams Spokane - Main 534 E Spokane Falls Blvd Suite 300, Spokane, WA (509) 458-4000
Listing date Jul 11, 2026
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The building is located in Cheney, WA at 1115 1st St, in Spokane County. Off-street parking is available for residents.
With a low-maintenance exterior and a configuration designed for apartment living, this property presents a straightforward multifamily option for an owner-operator or investor seeking a residential income asset in Cheney.
Key Highlights
- 11‑unit apartment building in Cheney with a 7 x 1‑bedroom /1‑bath and 4 x 2‑bedroom /1‑bath unit mix
- Updated exterior improvements include a newer composition roof and updated vinyl siding and windows
- Updated interiors with the current owner having moved rents and updated most units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.5k | $20.16 |
| − Vacancy | −$15.5k | −$1.61 |
| EGI | $178.1k | $18.55 |
| − OpEx | −$80.1k | −$8.35 |
| NOI | $97.9k | $10.20 |
