This has the potential to pencil out attractively based on current rents & it's fully occupied! This PRIME income-producing property DIRECTLY across from Eastern Washington University in Cheney, WA! This rare triplex for sale near EWU sits on a corner lot just steps from campus - just across the grounds to Showalter Hall and 2 minutes to Downtown Cheney restaurants, bars, and shops. Recent Updates include a new 2025 roof, exterior paint, new LVP flooring, and interior paint. This is one of the closest multifamily investment properties available near the school, making it ideal for a long-term investment, student housing, 1031 exchange, house hacking, and buyers seeking cash flow and long-term appreciation. This registered historic triplex features separately metered units, campus views, mature trees, and off-street parking for each unit. Gross monthly rental income is $3,250/Mo (Unit 323: $1500, Unit 325: $900, Unit 321: $850/Mo)
Active
$410,000
323 5th St, Cheney, WA 99004
7beds
4baths
3,008sqft
:
Get pre-qualified$2,584/mo
MultiFamily
Built in 1895
-- sqft lot
$-- Zestimate®
$136/sqft
$-- HOA
What's special
Separately metered unitsNew lvp flooringCampus viewsMature treesCorner lotInterior paintExterior paint
- 191 days |
- 269 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Nick Briggs 509-979-0553,
Windermere City Group
Source: SMLS as distributed by MLS GRID,MLS#: 202611651
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 4
Primary bedroom
- Description: Dbl Clst,1/2 Bath,Bsmt,1st Flr,2nd Flr
Dining room
- Description: Informal,Kit Eat Sp
Family room
- Description: Outside Ent,Bsmt,1st Flr,2nd Flr,Off Kit
Heating
- Electric, Forced Air, Ductless
Appliances
- Included: Free-Standing Range, Dishwasher, Refrigerator, Washer, Dryer
- Laundry: In Basement
Features
- In-Law Floorplan
- Flooring: Wood
- Windows: Bay Window(s)
- Basement: Partial,Partially Finished,Rec/Family Area,Walk-Out Access
- Has fireplace: No
Interior area
- Total structure area: 3,008
- Total interior livable area: 3,008 sqft
Property
Parking
- Total spaces: 3
- Parking features: Detached, Off Site, Alley Access
- Garage spaces: 1
Features
- Levels: One and One Half
- Stories: 2
Lot
- Size: 7,500 Square Feet
- Features: Level, Corner Lot
Details
- Parcel number: 13132.1005
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
Materials
- Stucco
- Roof: Composition
Condition
- Year built: 1895
Community & HOA
Community
- Subdivision: Cheney
HOA
- Amenities included: Laundry, None
Location
- Region: Cheney
Financial & listing details
- Price per square foot: $136/sqft
- Tax assessed value: $342,400
- Annual tax amount: $3,815
- Date on market: 2/2/2026
- Listing terms: FHA,VA Loan,Conventional,Cash,Commercial
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 2/2/2026 | Listed for sale | $410,000+51.9%$136/sqft |
Source:  SMLS as distributed by MLS GRID #202611651 Report a problem | ||
| 1/29/2020 | Sold | $270,000-3.5%$90/sqft |
Source: SMLS as distributed by MLS GRID #201926297 Report a problem | ||
| 11/15/2019 | Listed for sale | $279,900+76%$93/sqft |
Source: RE/MAX of Spokane #201926297 Report a problem | ||
| 12/15/2004 | Sold | $159,000$53/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,815 -5.8% | $342,400 -6.8% |
| 2024 | $4,050 +25.6% | $367,500 +6.6% |
| 2023 | $3,224 +29.2% | $344,600 +15.8% |
| 2022 | $2,495 -14.8% | $297,500 +29.2% |
| 2021 | $2,928 +9.6% | $230,300 +5.2% |
| 2020 | $2,673 +14.6% | $219,000 +9% |
| 2019 | $2,332 | $201,000 |
| 2018 | $2,332 -12.9% | $201,000 |
| 2017 | $2,678 +10.5% | $201,000 +7.9% |
| 2016 | $2,424 +5.8% | $186,200 |
| 2015 | $2,292 | $186,200 |
| 2014 | $2,292 | $186,200 |
| 2013 | $2,292 +4.6% | -- |
| 2011 | $2,192 +5.9% | -- |
| 2010 | $2,070 | -- |
| 2009 | $2,070 +34.3% | -- |
| 2008 | $1,542 | -- |
| 2007 | $1,542 -78.9% | $149,200 |
| 2005 | $7,309 +398.7% | -- |
| 2004 | $1,466 -0.4% | -- |
| 2003 | $1,471 | -- |
| 2002 | $1,471 -1.4% | -- |
| 2001 | $1,493 -5.8% | $106,200 |
| 1999 | $1,585 | $106,200 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 99004
Nearby schools
GreatSchools rating
- 6/10Betz Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 4/10Cheney Middle SchoolGrades: 6-8Distance: 1.2 mi
- 6/10Cheney High SchoolGrades: 9-12Distance: 0.7 mi
Schools provided by the listing agent
- Elementary: Betz
- Middle: Cheney
- High: Cheney
- District: Cheney
Source: SMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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