Union Park Apartments

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.