Union Park Apartments

For Sale

28 W 2nd St, Cheney, WA 99004

This Cheney property for sale is located at 28 W 2nd St. The general use of Union Park Apartments is multi-family and it incorporates 26,880 square feet of class C multi-family space. The current listed sale price for Union Park Apartments is $4,950,000. Union Park Apartments is situated on a lot that is 0.62 acre in size.

Contacts

broker
James Black III, CCIM

NAI Black

Property Details

  • Property Type Multi-Family
  • Property Size 26,880 SF
  • Units 58
  • Lot Size 0.62 Acre
  • Additional Rent Contact for pricing
  • Building Class C
  • Year Built 1971
  • Date Updated Dec 3, 2024
The Union Park Apartments are well located in the heart of Cheney, WA just blocks away from Eastern Washington University (EWU). Cheney has a consistent rental demand driven by Eastern Washington University’s student population, faculty, and local workforce. The area’s stable tenant base supports high occupancy rates and steady income potential. Cheney, Washington is located in Spokane County (Eastern Washington), 17 miles southwest of Spokane and 55 minutes (50 miles) from beautiful Coeur d’Alene, North Idaho. It’s situated on rolling hills, with views of the Channeled Scablands to the south and east surrounded by lakes, rivers and mountains. The city is at the highest point on the railroads between Spokane, WA and Portland, OR.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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Attachments

Getting around

  • 70/100

    Walk Score ®

  • 82/100

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Location

  • City Cheney, WA
  • Neighborhood Cheney
  • Zip Code 99004
  • Market Spokane

Points of Interest

  • Mitchell's Harvest Food

    0.09 miles

  • Mobil

    0.49 miles

  • Chevron

    1.43 miles

  • Maverik

    1.77 miles

  • 76

    5.42 miles

  • Exxon

    7.39 miles

  • Conoco

    7.86 miles

  • Pacific Pride

    9.99 miles

  • K Street Station

    0.12 miles

  • Lot P-6

    0.28 miles

  • Lot P-18

    0.30 miles

  • Lot P-7

    0.30 miles

  • Lot P-AM

    0.31 miles

  • Lot P-5

    0.32 miles

  • Lot P-1

    0.38 miles

  • Lot P-3

    0.39 miles

  • Lot P-TH

    0.41 miles

  • Lot P-15

    0.54 miles

  • Willow Springs

    0.57 miles

  • Willow Springs Station

    0.58 miles

  • AAA Inn

    1.04 miles

  • Holiday Inn

    1.79 miles

  • Super 8

    7.13 miles

  • Survival Inn

    9.09 miles

  • Cambria Hotel

    9.26 miles

  • Mitchell's Harvest Foods

    0.06 miles

  • Union Market & Grill

    0.55 miles

  • Yoke's

    1.35 miles

  • Bi-Mart

    1.44 miles

  • Grocery Outlet

    1.60 miles

  • Safeway

    1.64 miles

  • Denny's Foods

    7.65 miles

  • Harvest Foods

    8.19 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
James Black III, CCIM

NAI Black