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3,008 sqft

$399,400

323 5th St, Cheney WA, 99004

Price per sqft$132.78
Built in1895
Property size3,008 sqft
Property typeResidential
Courtesy of Windermere City Group, Nick Briggs Listing Contact: 509-323-2323

Overview

Active

Listed Oct 1, 2026

Updated 4 days ago

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 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. Upstairs unit to be vacant soon, making an excellent opportunity for owner occupancy. Seller Financing would be considered.

$2,657/mo

Est. mortgage payment based on a $399,400 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
202625190

Interior Features

Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.17 Acres

Other Property Details

Taxes
$3,815
Tax Frequency
Annually
Garage
Yes

Listings courtesy of WA - Spokane Association of REALTORS (SAR) as distributed by MLS GRID

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Robert Jacobs shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS. 

Based on information submitted to the MLS GRID as of 4:29 AM UTC on 10/9/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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