Three-Unit Residential Income
104 3rd St Cheney, WA 99004
New
104 3rd St, Cheney, WA, 99004
$449,900
For Sale
$449,900
Three separate units include a 3-bedroom home, a lower-level 2-bedroom, and a private-entry studio layout.
Property Size2,400 SF
Price / SF$187.46
Days on Market3
Property Features for 104 3rd St
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1968
Listing agency
Coldwell Banker Tomlinson
(509) 475-1035
Listed by
Jonathan Bich · License #47887
Source
Clearwaterproperties
Added: Jul 20 Updated: Jul 21 at 10:17PM Checked: Jul 22 at 4:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Tomlinson
Investment Insights
Based on property information with market context.
This Cheney tri-plex is set up for rental income and flexible living, with three separately arranged units within one property. Unit 104 offers single-level living with three bedrooms, a full bathroom, a bright living room centered on a wood-burning fireplace, and LVP flooring that extends through the hallway into the kitchen with oak cabinets, an informal dining area, and appliances including a dishwasher, electric range, and refrigerator.
Unit 106 is accessed from the back deck, where stairs lead to a lower-level apartment featuring two bedrooms, a 3/4 bathroom, a cozy yet functional kitchen, and a welcoming living room. Unit 102 has its own private entrance from the side of the home and includes a studio layout with a comfortable living area, a spacious kitchen, and a tucked-away 3/4 bathroom.
Overall, the property’s configuration supports independent unit access and varied layouts across the three residences, with in-unit features and appliances identified for each unit.
Unit 106 is accessed from the back deck, where stairs lead to a lower-level apartment featuring two bedrooms, a 3/4 bathroom, a cozy yet functional kitchen, and a welcoming living room. Unit 102 has its own private entrance from the side of the home and includes a studio layout with a comfortable living area, a spacious kitchen, and a tucked-away 3/4 bathroom.
Overall, the property’s configuration supports independent unit access and varied layouts across the three residences, with in-unit features and appliances identified for each unit.
Key Highlights
- Cheney tri‑plex with three separate units: a 3‑bedroom home, a lower‑level 2‑bedroom, and a private‑entry studio
- Unit 104: 3 bedrooms and 1 full bath with single‑level living plus a wood‑burning fireplace in the living room
- Unit 104 updates include new LVP flooring and a kitchen with oak cabinets, dishwasher, electric range, and refrigerator
Local Financial Insights For Multifamily LT 5
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 | $41.2k | $17.16 |
| − Vacancy | −$3.1k | −$1.30 |
| EGI | $38.1k | $15.86 |
| − OpEx | −$11.4k | −$4.76 |
| NOI | $26.6k | $11.10 |
2,400 SF · lease $17.16/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$333.0K – $444.0K
NOI $26,638 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$349.7K
$306.0K – $408.0K
NOI $24,482 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$554.6K
$485.3K – $647.0K
NOI $38,820 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three separate units include a 3-bedroom home, a lower-level 2-bedroom, and a private-entry studio layout.
Where is this triplex located?
The property is located at 104 3rd St Cheney, WA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Cheney tri‑plex with three separate units: a 3‑bedroom home, a lower‑level 2‑bedroom, and a private‑entry studio; Unit 104: 3 bedrooms and 1 full bath with single‑level living plus a wood‑burning fireplace in the living room; Unit 104 updates include new LVP flooring and a kitchen with oak cabinets, dishwasher, electric range, and refrigerator
