The Fifth Street Apartments are a well-located, low-maintenance fourplex with value-add potential. Rents can be increased to market levels with minor cosmetic upgrades, allowing for immediate income growth. Situated in Cheney, WA just 3 blocks from Eastern Washington University, 20 minutes from downtown Spokane, and 20 minutes from the airport, offering convenience for tenants. The property includes one spacious 3 bedroom 1 bathroom unit, three 1 bedroom 1 bathroom units, a shared laundry room, two storage sheds, and a shared parking lot.
Closed
$400,000
201 5th St, Cheney, WA 99004
12beds
10baths
3,406sqft
Multi Family
Built in 1945
-- sqft lot
$399,900 Zestimate®
$117/sqft
$1,495 Estimated rent
Home value
$399,900
$372,000 - $432,000
$1,495/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: September 24, 2025 at 10:20am
Listed by:
Jim Lister 509-216-2222,
Windermere Manito, LLC
Source: SMLS,MLS#: 202516766
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 10
Heating
- Natural Gas
Features
- Basement: Finished
- Has fireplace: No
Interior area
- Total structure area: 3,406
- Total interior livable area: 3,406 sqft
Property
Parking
- Total spaces: 1
- Parking features: Detached
- Garage spaces: 1
Features
- Levels: Two
Lot
- Size: 10,018 sqft
Details
- Parcel number: 13132.4801
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Roof: Composition
Condition
- Year built: 1945
Community & neighborhood
Location
- Region: Cheney
Other
Other facts
- Listing terms: See Remarks
Price history
| Date | Event | Price |
|---|---|---|
| 9/23/2025 | Sold | $400,000-2.4%$117/sqft |
Source:  SMLS #202516766 | ||
| 8/21/2025 | Pending sale | $410,000$120/sqft |
Source: SMLS #202516766 | ||
| 8/4/2025 | Price change | $410,000-3.5%$120/sqft |
Source: SMLS #202516766 | ||
| 5/14/2025 | Listed for sale | $425,000$125/sqft |
Source: SMLS #202516766 | ||
| 11/25/2024 | Listing removed | $425,000$125/sqft |
Source: SMLS #202420592 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,532 +16.3% | $411,300 -1.3% |
| 2023 | $3,896 +13.4% | $416,600 +1.6% |
| 2022 | $3,434 +14.9% | $410,100 +57.7% |
Find assessor info on the county website
Neighborhood: 99004
Nearby schools
GreatSchools rating
- 6/10Betz Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 4/10Cheney Middle SchoolGrades: 6-8Distance: 1.3 mi
- 6/10Cheney High SchoolGrades: 9-12Distance: 0.8 mi
Schools provided by the listing agent
- District: Cheney
Source: SMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$399,900
2% more+ $7,998
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$407,898