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308-318 W 3rd St 6 Unit Apartment Building $1,575,000 ($262,500/Unit) 5.45% Cap Rate Cheney, WA 99004
Executive Summary
Investment Opportunity! This portfolio includes three fully remodeled 4-bedroom, 2.5-bath duplexes plus a triplex at 17-21 5th Street featuring one 1-bedroom/1-bath and two 3-bedroom/2-bath units. All units offer open-concept floor plans, in-unit washers and dryers, and convenient attached garages at the 3rd Street duplexes. Located just minutes from Eastern Washington University, tenants enjoy easy access to shopping, dining, entertainment, and campus life. Combined rental income of $13,970 per month makes this an ideal opportunity for investors seeking stable cash flow in a high-demand area.
Property Facts
| Price | $1,575,000 | Apartment Style | Townhome |
| Price Per Unit | $262,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.45 AC |
| Cap Rate | 5.45% | Building Size | 12,474 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2016 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $1,575,000 |
| Price Per Unit | $262,500 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 12,474 SF |
| No. Stories | 2 |
| Year Built | 2016 |
| Zoning | R-3 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2.5 | 2 | - | - |
| 4+2.5 | 2 | - | - |
| 4+2.5 | 2 | - | - |
1 1
Bike Score®
Very Bikeable (77)
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,859,700 | |
| Land Assessment | $210,000 | Total Assessment | $2,069,700 |
Property Taxes
Parcel Numbers
Land Assessment
$210,000
Improvements Assessment
$1,859,700
Total Assessment
$2,069,700
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308-318 W 3rd St
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