Solid multifamily opportunity in Cheney just minutes from Eastern Washington University. This 4-plex features all units occupied, providing immediate rental income. Each unit includes its own washer and dryer for added tenant convenience. The property offers off-street parking and a location close to campus, dining, shopping, and everyday amenities—making it attractive for tenants. Great value-add potential for investors looking to expand their portfolio in a strong rental market.
Multi-familyProperty Type
1999Year Built
6,098 sq ftLot Size
$270Price/Sq.Ft.
Listed by Cambria Henry• Haven Real Estate Group
Listed by Natalya Romanov• Haven Real Estate Group
Perfect Owner Occupied opportunity or Investment opportunity in a prime college town location! This newer 4-plex, built in 2000, offers four units, each featuring 2 bedrooms and 1 bathroom, a dishwasher, and in-unit washer and dryer. With rents currently significantly under market value, this property offers great potential for income generation. Ideal for student housing, rental income or even owner occupied. Live in one unit and rent out the other three. The newer building features and amenities will appeal to tenants. There is plenty of parking available on the property. Don't miss out on this chance to own a piece of the college town market. Schedule a showing today! This property will qualify for FHA owner occupied with as little as 3.5% down. Buyer to verify information with lender. Property is currently rented and generating $3200 a month.
SPOKANEMLS as Distributed by MLS Grid #202310858
Mar 8, 2023
Sold
$650,000
$260/sq ft
Feb 2, 2023
Pending
—
Jan 26, 2023
Listed
$700,000
$280/sq ft
+24
SPOKANEMLS as Distributed by MLS Grid #28027286
Dec 31, 2008
Sold
$316,000
$127/sq ft
Aug 26, 2008
Listed
$319,000
$128/sq ft
SPOKANEMLS as Distributed by MLS Grid #23010404
Jul 8, 2003
Sold
$195,000
$78/sq ft
Jun 18, 2003
Listed
$195,000
$78/sq ft
Public Records
Dec 2, 1998
Sold
$37,000
$15/sq ft
Year
Property tax
Land + Additions
Assessment*
2026
$6,068 (−0.5%)
$84,000 + $469,600
$553,600
2025
$6,096 (+39.9%)
$84,000 + $469,600
$553,600
2024
$4,357 (−3.6%)
$84,000 + $382,100
$466,100
2023
$4,519 (+42.2%)
$48,000 + $492,100
$540,100
2022
$3,179 (−11.3%)
$48,000 + $238,900
$286,900
2021
$3,585 (+2.0%)
$48,000 + $265,800
$313,800
2020
$3,515 (+7.3%)
$48,000 + $240,300
$288,300
2019
$3,277 (−13.0%)
$48,000 + $234,600
$282,600
2018
$3,768 (+10.5%)
$48,000 + $235,000
$283,000
2017
$3,410 (+3.4%)
$48,000 + $235,000
$283,000
2016
$3,297 (+1.6%)
$48,000 + $215,600
$263,600
2015
$3,246
$48,000 + $216,000
$264,000
Public record
Beds
8
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
6,000 Sq. Ft.
Year renovated
2000
Finished Sq. Ft.
2,496
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,496
Year built
2000
Style
Other
County
Spokane County
APN
13133.0108
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 2, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
5/10 Fire Factor
7% chance of being in a wildfire in next 30 years
3/10 Heat Factor
7 days above 94° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
8/10 Air Factor
13 unhealthy days expected this year, 14 days in 30 years
Provided by First Street
Historical weather
Cheney, WA • 99004
Average low and high temperatures (°F)
37
26
39
26
51
34
60
38
69
45
76
51
87
58
86
60
81
55
60
39
45
34
41
32
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 5 2nd St
$659,423
$16K under list price of $675K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $315K to $900K.