1237 Commerce Ave Pending Save Request In-Person Tour Request Virtual Tour
Longview,WA 98632
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Pending
Purchase Type For Sale
Subdivision Longview
MLS Listing ID 2293194
Style 61 - Comm Bldg Ovr 10K
Year Built 1926
Annual Tax Amount $5,440
Lot Size 10,800 Sqft
Property Description
Seize this rare chance to acquire a prime investment property with substantial upside potential, situated in the heart of downtown Longview. This distinguished 16,200-square-foot mixed-use building combines historic charm with significant growth prospects, featuring four commercial suites and 16 residential apartments across two levels. The property presents considerable potential for rent increases following necessary updates. Currently offered at a 5.4% cap rate, this investment boasts a conservative proforma projecting a 10%+ cap rate, making it an outstanding addition to any investment portfolio. Capitalize on the opportunity to enhance cash flow through strategic improvements and efforts.
Location
State WA
County Cowlitz
Area 404 - Westside
Interior
Flooring Hardwood,Laminate,Vinyl Plank,Carpet
Exterior
Exterior Feature Brick,Cement/Concrete
Roof Type Torch Down
Building
Sewer Sewer Connected
Water Public
Others
Acceptable Financing Cash Out,Conventional
Listing Terms Cash Out,Conventional