Eagles Landing Cheney, WA

Investment Highlights

• Located Blocks from Eastern Washington University
• Strong Connectivity Within the Greater Spokane Metro
• University-Anchored Submarket with Diversified Regional Demand
• Recently Completed Capital Improvements
• Walkable Location with Owned On-Site Laundry Income
• Value-Add Opportunity Through Below-Market Rents and Continued Unit Upgrades
• Stabilized, Cash-Flowing Asset in a Growing Spokane-Area Market

Located Blocks from Eastern Washington University

Eagles Landing is located at 1306-1320 3rd Street in Cheney, Washington, just a few blocks from Eastern Washington University (EWU) — a major regional draw with enrollment of roughly 10,000+ students, making the university one of the largest single demand drivers in the entire submarket.

Strong Connectivity Within the Greater Spokane Metro

The property benefits from strong regional connectivity within the greater Spokane metro, situated approximately 20-25 minutes (~16 miles) from Downtown Spokane, approximately 15-20 minutes from Spokane International Airport (GEG), approximately 15-20 minutes (~12 miles) from Fairchild Air Force Base, and approximately 25-30 minutes from Gonzaga University. This combination of a quiet, walkable university-town setting with easy access to Spokane's largest employment centers, its airport, and Fairchild AFB gives Eagles Landing a broad and durable renter pool — students and faculty, military personnel and their families, and traditional working professionals commuting into Spokane.

University-Anchored Submarket with Diversified Regional Demand

Cheney is a classic university-anchored submarket: EWU's enrollment of roughly 10,000+ students is nearly equal to the city's total population of approximately 12,800, making the local economy and rental demand almost entirely tied to the university's continued enrollment and operations. Published median household income figures for Cheney trail the national average — a normal characteristic of college towns, where a large share of residents are students with limited reported income rather than a reflection of underlying renter quality or demand. Mean commute times of roughly 20-24 minutes are in line with the broader Spokane-Spokane Valley metro, confirming that Cheney functions as an accessible, connected suburb rather than an isolated market. Beyond the university, the Spokane region continues to see steady population in-migration from higher-cost West Coast markets, supported by regional employment diversity (healthcare, education, and military/government via Fairchild AFB) and a comparatively affordable cost of living.