285 22nd Avenue
Longview, WA 98632
18400 sqft | 0.44 acres | #2301606
Description
Incredible turnkey multifamily investment! Professionally managed, newly-built townhouse-style rental units are a passive investor’s dream. Built in 2023 these 16 units, all boasting 3 bedrooms and 1.5 bathrooms 2-story & under builder’s warranty in 2024. Fire sprinklers! Offers a remarkable 6.5% Cap Rate on Year 1 stabilized, 11.5 GRM & 24% Expense Ratio. 100% occupancy w/ tenant wait list. Mostly market rate tenants but also Section 8 approved, for consistent income. Option for 1-3 more fourplex under devt, if larger portfolio is desired. Offering is for portfolio of 4 fourplexes but open to offers for individual 4plex(es). Addresses: 285 22nd Ave, 263 20th Ave, 259 20th Ave, 257 20th Ave. All separate parcels.
Property Details
- Lot DescriptionAdjacent to Public Land, Alley, Dead End Street, Open Space, Paved, Sidewalk
- InteriorCeramic Tile, Wall to Wall Carpet
- Sewer InformationAvailable, Sewer Connected
- Exterior FeaturesDeck, Sprinkler System
- Date ListedOctober 14, 2024
- FoundationPoured Concrete
- Middle SchoolMonticello Mid
- Exterior MaterialsWood Products
- High SchoolR A Long High
- Property TypeMulti-Family
- Elementary SchoolKessler Elem
- Property SubtypeMulti-Family
- Style54 - 4-Plex
- Original List Price$4,200,000
- Structure TypeQuadruplex
- SubdivisionHighlands
- Property ConditionVery Good
- School DistrictLongview
- CountyCowlitz
- MLS #2301606
- Cost4200000
- MLS #2301606
- Acres0.4408
- Utility SourcePublic
- Square Feet18400
- Year Built2023
- Taxes Annual$796
- Days on Market (Cumulative)67
- Stories2
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2024-11-13 18:56:48. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Copyright 2024 Northwest Multiple Listing Service. All rights reserved.
Last Updated: . Source: NWMLS
Listing Courtesy
Listing Agent: Jonathan Nicoli (#NWM133297)
Listing Office: CENTURY 21 Real Estate Center (#NWM7341)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
