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308-318 W 3rd St 6 Unit Apartment Building $2,193,723 CAD ($365,621 CAD/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 | $2,193,723 CAD | Apartment Style | Townhome |
| Price Per Unit | $365,621 CAD | 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 | $2,193,723 CAD |
| Price Per Unit | $365,621 CAD |
| 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
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,553,331 CAD | |
| Land Assessment | $288,326 CAD | Total Assessment | $2,841,657 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$288,326 CAD
Improvements Assessment
$2,553,331 CAD
Total Assessment
$2,841,657 CAD
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308-318 W 3rd St
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