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    Cheney, WA
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    Cheney, WA Multifamily Properties for Sale

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    Spokane, WA Medical Lake, WA Spangle, WA Airway Heights, WA Valleyford, WA Edwall, WA Mica, WA Spokane Valley, WA
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    11-Unit Apartment Building
    Updated: Jul 11
    11-Unit Apartment Building

    1115 1st St, Cheney, WA 99004

    $1,200,000
    9,600 sqft 0.19 AC lot
    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
    Low‑maintenance property features include concrete walkways and off‑street assigned parking (offsite)
    Built in 1970 with baseboard and electric heating
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    This listing looks promising.

    Here's a quick look at some key insights for

    1115 1st St, Cheney, WA 99004

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    • Est. Cap Rate

      8.2%
      Above avg (5.9%)

    • Est. NOI

      $98K
      Annual

    • Price @ 7% Cap

      $1.4M
      Above asking

    • Property Type

      Apartments (Generic)
      Built 1970
    View Property Analytics
    11-Unit Apartment Building
    Updated: Jul 14
    11-Unit Apartment Building

    1115 1st St, Cheney, WA 99004

    $1,200,000
    9,600 sqft 0.19 AC lot
    11‑unit apartment building in Cheney near Eastern Washington University
    Unit mix: seven 1‑bed/1‑bath units and four 2‑bed/1‑bath units
    Updated exterior and components including newer roof, vinyl siding, and windows
    Concrete walkways and off‑street parking
    Heating includes electric baseboard; roof is composition
    View details
    Victorian 4-Unit Rental Property
    Victorian 4-Unit Rental Property

    422 4th St, Cheney, WA 99004

    $450,000
    2,215 sqft 0.11 AC lot

    Converted Victorian 4-plex with individual electric meters, multiple porches, and recent interior updates.

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    Brick Rancher Duplex
    Brick Rancher Duplex

    1521 4th St, Cheney, WA 99004

    $295,000
    1,638 sqft

    Duplex with two 2-bedroom, 1-bath units, each with its own porch, storage, and off-street parking, both currently rented.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Updated Multifamily Near Eastern Washington
    Updated Multifamily Near Eastern Washington

    317 College Ave, Cheney, WA 99004

    $600,000
    5,284 sqft 0.23 AC lot

    Updated multifamily property near Eastern Washington University with commercial kitchen.

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    Well-Maintained Triplex Investment
    Well-Maintained Triplex Investment

    17 5TH St, Cheney, WA 99004

    $450,000
    2,016 sqft

    Triplex with one 1-bedroom and two 3-bedroom units, each with in-unit washers and dryers.

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    Cheney Investment Opportunity Near EWU
    Cheney Investment Opportunity Near EWU

    318 W 3rd St, Cheney, WA 99004

    Contact for pricing

    Three remodeled duplexes near Eastern Washington University.

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    Cheney Multifamily Property For Sale
    Cheney Multifamily Property For Sale

    113 N 9th St, Cheney, WA 99004

    Contact for pricing

    Multifamily property available for purchase in Cheney, Washington.

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    Based on your search, we've compiled 72 Potential Opportunities for your consideration. Besides 8 Active listings in Cheney, WA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 56 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Vacant Rehabbed Triplex with Garage
    Vacant Rehabbed Triplex with Garage

    3415 S Grand Blvd, Spokane, WA 99203

    $775,000
    3,174 sqft 0.22 AC lot

    Vacant, recently rehabbed three-unit, three-level triplex with oversized bedrooms, new bathrooms, and separate secure entrances.

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    Medical Lake Duplex Investment Opportunity
    Medical Lake Duplex Investment Opportunity

    316 N Silver Lake Ave, Medical Lake, WA 99022

    $385,000
    2,240 sqft 0.29 AC lot

    Well-positioned duplex in Medical Lake with consistent rental demand.

    View details
    Spokane Duplex: Investment Opportunity
    Spokane Duplex: Investment Opportunity

    3103 W 13TH Ct, Spokane, WA 99224

    $335,000
    1,152 sqft 0.17 AC lot

    Well-located duplex near Spokane offers excellent investment potential.

    View details
    Mobile Home, RV Park, Motel
    Mobile Home, RV Park, Motel

    12525 W Sunset Hwy, Airway Heights, WA 99001

    Contact for pricing
    2,400 sqft 4.17 AC lot

    51-unit mobile home, RV park, and motel on 4.17 acres.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Hauser, ID Land with Views
    Hauser, ID Land with Views

    16154 N Smith Ave, Hauser, ID 83854

    $495,000
    1,232 sqft 5.00 AC lot

    5-acre property with Hauser Lake views, ready for your dream home.

    View details
    Blanchard Land: Entertainer's Delight
    Blanchard Land: Entertainer's Delight

    101 Par Loop, Blanchard, ID 83804

    $345,000
    140 sqft 0.11 AC lot

    Oversized corner lot with extensive outdoor kitchen and coach house.

    View details
    Scenic Land Overlooking St. Joe
    Scenic Land Overlooking St. Joe

    St Maries, ID 83861

    $149,000
    5.00 AC lot

    5-acre parcel with views, convenience, and flexibility.

    View details
    Waterfront Timbered Acreage Lot
    Waterfront Timbered Acreage Lot

    1901 Pines Rd, Newport, WA 99156

    $115,000
    10.13 AC lot

    Timbered 10.13-acre lot with power installed and fiber conduit in place, offering views of the Little Spokane River.

    View details

    Off-Market Properties in Cheney, WA

    Consider similar Off-Market properties in Cheney, WA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    1306 3rd St
    HIGH-RISE APARTMENTS

    1306 3rd St, Cheney, WA 99004-1861

    $2,810,000
    Estimated value
    4,901 sqft 0.27 AC lot
    View details
    1320 3rd St
    HIGH-RISE APARTMENTS

    1320 3rd St, Cheney, WA 99004-1852

    $2,675,000
    Estimated value
    4,901 sqft 0.29 AC lot
    View details
    410 2nd St
    APARTMENT HOUSE (5+ UNITS)

    410 2nd St, Cheney, WA 99004-1604

    $2,505,000
    Estimated value
    0.11 AC lot
    View details
    511 Clay St
    APARTMENT HOUSE (5+ UNITS)

    511 Clay St, Cheney, WA 99004-5091

    $1,435,000
    Estimated value
    1,344 sqft 0.68 AC lot
    View details
    840 1st St
    MOBILE HOME PARK, TRAILER PARK

    840 1st St, Cheney, WA 99004-9748

    $1,480,000
    Estimated value
    1,130 sqft 3.16 AC lot
    View details
    1605 1st St
    HIGH-RISE APARTMENTS

    1605 1st St, Cheney, WA 99004-1900

    Value Estimation by Request
    1,512 sqft 0.24 AC lot
    View details
    1705 2nd St
    HIGH-RISE APARTMENTS

    1705 2nd St, Cheney, WA 99004-1909

    Value Estimation by Request
    2,606 sqft 0.24 AC lot
    View details
    107 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    107 Blackhawk Ln, Cheney, WA 99004-6005

    Value Estimation by Request
    1,644 sqft 0.08 AC lot
    View details
    103 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    103 Blackhawk Ln, Cheney, WA 99004-6005

    Value Estimation by Request
    1,644 sqft 0.09 AC lot
    View details
    91 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    91 Blackhawk Ln, Cheney, WA 99004-6052

    Value Estimation by Request
    1,644 sqft 0.09 AC lot
    View details
    97 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    97 Blackhawk Ln, Cheney, WA 99004-6052

    Value Estimation by Request
    1,644 sqft 0.08 AC lot
    View details
    109 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    109 Blackhawk Ln, Cheney, WA 99004-6005

    Value Estimation by Request
    1,644 sqft 0.07 AC lot
    View details
    111 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    111 Blackhawk Ln, Cheney, WA 99004-6005

    Value Estimation by Request
    1,644 sqft 0.10 AC lot
    View details
    85 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    85 Alki Ln, Cheney, WA 99004-6004

    Value Estimation by Request
    1,785 sqft 0.05 AC lot
    View details
    95 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    95 Alki Ln, Cheney, WA 99004-6004

    Value Estimation by Request
    1,785 sqft 0.05 AC lot
    View details
    97 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    97 Alki Ln, Cheney, WA 99004-6004

    Value Estimation by Request
    1,785 sqft 0.05 AC lot
    View details

    Cheney, WA Multifamily Properties Market Trends and Statistics

    Explore 64 multifamily properties for sale in Cheney, WA, showcased through 8 active listings on our real estate platform. These investment opportunities span a total of 30,353 square feet of properties for sale, with an estimated market value of $4,195,000.

    Sale prices for multifamily properties in Cheney, WA start at $295,000, averaging $699,166, and reaching up to $1,200,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Map

    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Apartment buildings 2
    Duplexes 2
    Quadplexes 1
    Short term rental properties 1
    Triplexes 1

    Demographics Overview

    Population 22K
    Population Growth (5Y) +10.0%
    Median Household Income $62,014
    College Educated 49.8%

    High-Yield Neighborhoods for Investment

    Identify Cheney submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    99004 $875K

    Taxes & Financing

    Tax Rate (average for all types) 0.82%
    Property Tax per SF $9.07 per SF
    Tax Rate vs County Average 0.04 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Spokane County

    New Delisted

    Total CRE Inventory on Market (SF)

    Property Size Breakdown

    The majority of commercial real estate listings in Cheney fall within the 2,500 to 5,000 square foot range.

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