# 323 5th St, Cheney, WA 99004

> **TL;DR:** 7bd/4ba residential multi family, $410,000 ($136/sqft), built 1895, 3,008 sqft. Est. $2,193/mo. Listed 177 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $410,000 |
| Price/sqft | $136 |
| Bedrooms | 7 |
| Bathrooms | 4 full |
| Square Feet | 3,008 |
| Year Built | 1895 |
| Lot Size | 7,501 sqft (0.17 acres) |
| Stories | 2 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 177 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $2,073 |
| Estimated Insurance | $120 |
| **Total** | **$2,193** |

## Nearby Schools

- **Elementary:** Betz
- **Middle:** Cheney
- **High:** Cheney

## Property Highlights

- Built in 1895
- 0.17 acre lot
- 2 stories
- 3 parking spaces

## Description

### Agent Description
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)

## Location

- **Address:** 323 5th St, Cheney, WA 99004
- **County:** Spokane
- **Coordinates:** 47.488615, -117.579312
- **Google Maps:** https://www.google.com/maps?q=47.488615,-117.579312

## Listing Agent

- **Name:** Nick Briggs
- **Brokerage:** Windermere City Group
- **Phone:** (509) 323-2323

## Primary Photo

![323 5th St - Primary Photo](http://lh.rdcpix.com/2c1f4be7f033508efe903df014b5600dl-f369062115r.jpg)

*46 total photos available on [listing page](https://www.propertysimple.ai/listing/323-5th-st-cheney-wa-99004-02611651)*

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**MLS#:** 202611651 | **Updated:** 2026-08-01
**Source:** listhub

*Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/323-5th-st-cheney-wa-99004-02611651)

---

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