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
MultiFamily
Built in 1895
-- sqft lot
$-- Zestimate®
$136/sqft
$-- HOA
What's special
Separately metered unitsNew lvp flooringCampus viewsMature treesCorner lotInterior paintExterior paint
- 143 days |
- 262 |
- 16 |
Zillow last checked:
Listing updated:
Listed by:
Nick Briggs 509-979-0553,
Windermere City Group
Source: SMLS as distributed by MLS GRID,MLS#: 202611651
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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: $367,500
- 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 |
|---|---|---|
| 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 | $106,200 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
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.
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.
- Washington
- Spokane County
- Cheney
- 99004
- 323 5th St
Nearby cities
Nearby zip codes
Other Cheney Topics
