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    Cheney, WA
    Residential Income

    Cheney, WA Residential Income Properties for Sale

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    Medical Lake, WA Spokane, WA Spangle, WA Airway Heights, WA Edwall, WA Valleyford, WA Mica, WA
    6 properties
    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
    Eleven‑unit apartment building with 7 one‑bedroom/1‑bath units and 4 two‑bedroom/1‑bath units
    0.1908‑acre lot and 9,600 SF building area
    Newer roof, updated vinyl siding, and updated windows
    Updated interiors and concrete walkways
    Electric baseboard heating and composition roof
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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
    Triplex on Corner Lot
    Triplex on Corner Lot

    323 5th St, Cheney, WA 99004

    $410,000
    3,008 sqft 0.17 AC lot

    Fully occupied triplex zoned RMF with separately metered units, recent exterior updates, and off-street parking for each unit.

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    11-Unit Apartment Building
    11-Unit Apartment Building

    1115 1st St, Cheney, WA 99004

    $1,200,000
    9,600 sqft

    The property offers one- and two-bedroom apartments with off-street parking in Cheney, home to Eastern Washington University.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Three-Unit Residential Income Property
    Three-Unit Residential Income Property

    104 3rd St, Cheney, WA 99004

    $425,000
    2,400 sqft

    Three separate units include a 3-bedroom home, a lower-level 2-bedroom, and a private-entry studio layout.

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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 71 Potential Opportunities for your consideration. Besides 6 Active listings in Cheney, WA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 57 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.

    51-Unit Mobile Home & RV Park
    51-Unit Mobile Home & RV Park

    12525 W Sunset Hwy, Airway Heights, WA 99001

    $3,699,000
    2,400 sqft 4.17 AC lot

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

    View details
    Medical Lake Duplex Investment Opportunity
    Medical Lake Duplex Investment Opportunity

    316 N Silver Lake Ave, Medical Lake, WA 99022

    $385,000
    0.29 AC lot

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

    View details
    Updated Two-Unit Duplex
    Updated Two-Unit Duplex

    401/403 N. GRANT, Medical Lake, WA 99022

    $400,000

    Two two-bedroom residences feature remodeled kitchens, modern appliances, and refreshed interiors within a well-maintained duplex.

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    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.

    Multi-Family Zoned Lot Near EWU
    Multi-Family Zoned Lot Near EWU

    7 5th Street, Cheney, WA 99004

    $460,000
    16,000 sqft 0.37 AC lot

    16,000 sq ft multi-family zoned lot near Eastern Washington University.

    View details
    20-Acre Cheney Land Parcel
    20-Acre Cheney Land Parcel

    5306 W Curtis Rd, Cheney, WA 99004

    $299,999
    20.50 AC lot

    Secluded 20-acre land near Cheney with power and building.

    View details
    78.2 Acres of Land in Cheney
    78.2 Acres of Land in Cheney

    Vacant Land, Cheney, WA 99004

    $649,940
    78.20 AC lot

    78.2 acres of land near Turnbull National Wildlife Refuge.

    View details
    Spokane Land Near State Park
    Spokane Land Near State Park

    18xxx W Paradise Rd, Spokane, WA 99224

    $285,000
    19.35 AC lot

    19.35 acre parcel adjacent to James T Slavin State Park.

    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

    $2,510,000
    Estimated value
    4,901 sqft 0.27 AC lot
    View details
    1320 3rd St
    HIGH-RISE APARTMENTS

    1320 3rd St, Cheney, WA 99004-1852

    $2,510,000
    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

    $2,240,000
    Estimated value
    0.11 AC lot
    View details
    511 Clay St
    APARTMENT HOUSE (5+ UNITS)

    511 Clay St, Cheney, WA 99004-5091

    $1,380,000
    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

    $1,340,000
    Estimated value
    1,130 sqft 3.16 AC lot
    View details
    1605 1st St
    HIGH-RISE APARTMENTS

    1605 1st St, Cheney, WA 99004-1900

    $330,000
    Estimated value
    1,512 sqft 0.24 AC lot
    View details
    1705 2nd St
    HIGH-RISE APARTMENTS

    1705 2nd St, Cheney, WA 99004-1909

    $270,000
    Estimated value
    2,606 sqft 0.24 AC lot
    View details
    107 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    107 Blackhawk Ln, Cheney, WA 99004-6005

    $260,000
    Estimated value
    1,644 sqft 0.08 AC lot
    View details
    103 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    103 Blackhawk Ln, Cheney, WA 99004-6005

    $255,000
    Estimated value
    1,644 sqft 0.09 AC lot
    View details
    91 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    91 Blackhawk Ln, Cheney, WA 99004-6052

    $255,000
    Estimated value
    1,644 sqft 0.09 AC lot
    View details
    97 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    97 Blackhawk Ln, Cheney, WA 99004-6052

    $255,000
    Estimated value
    1,644 sqft 0.08 AC lot
    View details
    109 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    109 Blackhawk Ln, Cheney, WA 99004-6005

    $260,000
    Estimated value
    1,644 sqft 0.07 AC lot
    View details
    111 Blackhawk Ln
    APARTMENT HOUSE (5+ UNITS)

    111 Blackhawk Ln, Cheney, WA 99004-6005

    $255,000
    Estimated value
    1,644 sqft 0.10 AC lot
    View details
    85 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    85 Alki Ln, Cheney, WA 99004-6004

    $265,000
    Estimated value
    1,785 sqft 0.05 AC lot
    View details
    95 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    95 Alki Ln, Cheney, WA 99004-6004

    $265,000
    Estimated value
    1,785 sqft 0.05 AC lot
    View details
    97 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    97 Alki Ln, Cheney, WA 99004-6004

    $265,000
    Estimated value
    1,785 sqft 0.05 AC lot
    View details
    87 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    87 Alki Ln, Cheney, WA 99004-6004

    $265,000
    Estimated value
    1,785 sqft 0.05 AC lot
    View details
    99 Alki Ln
    APARTMENT HOUSE (5+ UNITS)

    99 Alki Ln, Cheney, WA 99004-6004

    $265,000
    Estimated value
    1,785 sqft 0.05 AC lot
    View details

    Cheney, WA Residential Income Properties Market Trends and Statistics

    Explore 63 residential income properties for sale in Cheney, WA, showcased through 6 active listings on our real estate platform. These investment opportunities span a total of 34,208 square feet of properties for sale, with an estimated market value of $4,435,000.

    Sale prices for residential income properties in Cheney, WA start at $410,000, averaging $887,000, 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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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 5
    Apartment buildings 3
    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 $699.2K

    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)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Spokane County

    Office

    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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