28 W 2nd St

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Address: 28 W 2nd St, Cheney, WA 99004, USA

Seattle & Northwest + Apartment Buildings

Created date: November 1, 2024

Date last updated: December 2, 2024

Property Description

NAI Black, as the exclusive sale advisor, is pleased to present the Union Park Apartments – a 58-unit apartment community in the heart of Cheney, Washington. Located within the Spokane, WA (Eastern Washington submarket), a few blocks from Eastern Washington University, the property features a unit mix of fifty-eight (58) 1-bedroom apartments perfect for students, faculty and local residents alike. The property benefits from strong in-place cash flow, while presenting further upside through lease-up of current vacancies, other unit turnover, interior renovation, and market lease-up by a prospective purchaser or investor. The subject property is comprised of two (2) buildings on two (2) contiguous parcels offering a total of 26,880 rentable square footage situated on a total of 42,510 square feet (nearly 1.0 acre) of land.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$4,950,000
No. of Units:	58
Year Built:	1971
Lot Size:	0.62 Sq ft
Opportunity Zone:	No
Price per unit:	$85,345
Property Website	Click Here