706 1st St, Cheney, WA 99004

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Property Description

CAP is 5.2 % for 2021. Great income producing property with a great potential. A rare investment opportunity. NI is 3.8% by leasing 2700 sq.ft apartment only, with leasing the main floor that is 4800 sq ft., you are looking for NI around 8-10%. It is a unique combination of completely renovated Apartment on the second floor (6 bdr/3bth, 2750 sq.ft, rented by room with a great rental income) and Commercial Storefront/Retail/Office on the main floor in a prime location,3 blocks from EWU and downtown of Cheney. Apartment could be leased as offices or medical facility, etc. Zoned G1, downtown commercial.The showroom on the main floor has an open floor plan, approx. 4800 sq. ft, loading dock,12+parking stalls and street parking will make these properties highly desirable among the growing population of more than 12,000 EWU students&closeness to the EWU campus, rapidly growing West Plains with Amazon fulfillment center, Medical Lake, golf courses and lakes, Fairchild AFB. Great owner user or investment opportunity.

706 1st St | MLS# 202220435

This home located at 706 1st St, Cheney, WA 99004 is currently listed for sale with an asking price of $849,000. This property was built in 1954 and with 7500 sq. ft. 1st St is located within the Cheney school district. Search Cheney real estate on www.cbspokane.com today.

Property Features

Property Type: Residential -
Basement: None, See Remarks
Garage: 4 car attached
Lot Size: 0.21 Acres
Roof Type: Flat
Stories: 2.0
Year Built: 1954

Feature Descriptions

Association Amenities: Laundry, See Remarks
Days on Site: 9
Down Payment Assistance: ***
Exterior: Block
Heating/Cooling: Gas Hot Air Furnace, Electric, Forced Air, Baseboard, Central
Lot: Level, Corner Lot
Parcel#: 13131.2511
Parking: Attached, See Remarks
Parking Space(s): 12
SQ. FT. Total: 7500

Local Schools

School District: Cheney

Listed By / Shown By

Listed By

Agency Name: M J McAdams Realty
Agency Phone: 509-458-2727

Shown By

Agency Title: Coldwell Banker Tomlinson
Agency Phone:

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Estimated Payment

$ 3,811.15 per month $3,563.53 Principal & Interest $0.00 Property Tax (data not provided by mls) $247.63 Homeowner's Insurance

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(Payments are an estimate and may vary by lender)

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