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.
Interior Details
- InteriorCeramic Tile, Wall to Wall Carpet
Property Details
- Lot DescriptionAdjacent to Public Land, Alley, Dead End Street, Open Space, Paved, Sidewalk
- Exterior FeaturesDeck, Sprinkler System
- Exterior MaterialsWood Products
- Stories2
Measurements
- Acres0.4408
- Square Feet18400
Construction Details
- Property TypeMulti-Family
- Style54 - 4-Plex
Condition
- Year Built2023
Material information
- FoundationPoured Concrete
Utilities / Energy Details
- Sewer InformationAvailable, Sewer Connected
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionHighlands
Location
- Middle SchoolMonticello Mid
- High SchoolR A Long High
- Elementary SchoolKessler Elem
- School DistrictLongview
- CountyCowlitz
Financial Details
- Original List Price$4,200,000
- Taxes Annual$796
- Days on Market (Cumulative)38
Other
- MLS #2301606
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.
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.
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.
