Four-Unit Multifamily
For Sale
$675,000
5 2nd St, Cheney, WA 99004
Individual in-unit laundry and off-street parking serve the occupied residences.
Property Size2,496 SF
Price / SF$270.43
Days on Market228
Property Features for 5 2nd St
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,068
Amenities
washer/dryer in unit
off-street parking
Building Details
Building Size
2,496 SF
Year Built
1999
Units
4
Listing Agency:
Haven Real Estate Group
(509) 590-1765
Listed By:
Cambria Henry · License #AB44385
(509) 590-4701
Source:
Ericksrealty
Added: Mar 12
Changed: Oct 23
Last Checked: Oct 23 at 3:16PM
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 Haven Real Estate Group
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Investment Insights
Based on property information with market context.
This 2,496-square-foot multifamily property was built in 1999 and contains four residences. All units are occupied, and each has its own washer and dryer. Off-street parking is available.
The property is in Cheney, minutes from Eastern Washington University and near dining, shopping, and everyday amenities.
The property is in Cheney, minutes from Eastern Washington University and near dining, shopping, and everyday amenities.
Key Highlights
- Four‑unit property with all residences occupied
- 2,496 square feet; built in 1999
- Each unit has its own washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,703
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,060
$554.1K
Cap Rate 7%
$395,757
$395.8K
Cap Rate 9%
$307,811
$307.8K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$42.8K $17.16/SF
− Vacancy
−$3.3K −$1.30/SF
EGI
$39.6K $15.86/SF
− OpEx
−$11.9K −$4.76/SF
NOI
$27.7K $11.10/SF
Area
Spokane County, WA
Vacancy
7.60%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,060
Cap Rate 7%
$395,757
Cap Rate 9%
$307,811
Alternative Uses
Best Use
Multifamily LT 5
$395.8K
$346.3K – $461.7K
NOI $27,703 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$363.7K
$318.3K – $424.4K
NOI $25,462 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$576.8K
$504.7K – $672.9K
NOI $40,373 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
Business Placement
Demographics for 99004, WA
23,064
Population
8,992
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
334.3 sq mi
ZIP Area
69
Density / Sq Mi
$62,014
Median Household Income
$29,835
Median Earnings
$1,081
Median Rent
$368,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Individual in-unit laundry and off-street parking serve the occupied residences.
Where is this quadplex located?
The property is located at 5 2nd St Cheney, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four‑unit property with all residences occupied; 2,496 square feet; built in 1999; Each unit has its own washer and dryer
