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706 1st St

Cheney, WA 99004
  • $849,000
  • STATUS: Active
  • ON SITE: 12 Days
  • ID#: 202220434
UPDATED: 32 min ago
$849,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,500
    SQFT
  • $113
    $/SQFT
Neighborhood:
Type:
Commercial-Lease
Built:
1954
County:
Area:

School Ratings & Info

School District:

Description

2021 CAP is 5.2%. A rare investment opportunity. Current 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%. The total estimated income:$3000 -main floor and $3600 is a current income for the 2nd floor apartment, great income producing property. It is unique combination of completely renovated Apartment (6 bdr/3bth, approx.2700 sq.ft.) rented by room with a great rental income and Commercial Storefront/Retail/Office below in a prime location, 3 blocks from EWU and downtown. 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 and 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.

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© 2022 of Spokane Association of REALTORS­® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS­® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2022-08-15T18:20:42.803.
www.propertybyprime.com/homes/131504382
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706 1st St Cheney, WA 99004

  • Price: $849,000
  • Status: Active
  • On Site: 12 Days
  • Updated: 32 min ago
  • ID#: 202220434
0
Beds
0
Baths
0
½ Baths
0.21
Acres
7,500
SQFT
$113
$/SQFT
1954
Built
Neighborhood:
A420/097
County:
Spokane
Area:
A420/097
School District:
Cheney
Property Description
2021 CAP is 5.2%. A rare investment opportunity. Current 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%. The total estimated income:$3000 -main floor and $3600 is a current income for the 2nd floor apartment, great income producing property. It is unique combination of completely renovated Apartment (6 bdr/3bth, approx.2700 sq.ft.) rented by room with a great rental income and Commercial Storefront/Retail/Office below in a prime location, 3 blocks from EWU and downtown. 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 and 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.
Exterior Features

Construction Materials Block Parking Total 12 Road Frontage Type City Street Roof Flat

Interior Features

Basement None Heating Gas Hot Air FurnaceElectricForced AirBaseboardCentral

Property Features

Additional Parcels YN No Building Area Total 7500 Lease Considered YN Yes Listing Terms CashCommercial Loading Dock 1 Property Sub Type Commercial

Listing provided courtesy of M J Mcadams Realty.
© 2022 of Spokane Association of REALTORS­® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS­® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2022-08-15T18:20:42.803.
 
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Prime Real Estate Group
417 W 1st St
Spokane WA, 99201