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.

Property Features

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