285 22nd AVE new to site Save Request In-Person Tour Request Virtual Tour
Longview,WA 98632
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,400 sqft
Price per Sqft $228
Subdivision Highlands
MLS Listing ID 2301606
Style 54 - 4-Plex
Bedrooms 48
Year Built 2023
Annual Tax Amount $796
Lot Size 0.441 Acres
Property 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.
Location
State WA
County Cowlitz
Area 402 - Highlands
Interior
Flooring Ceramic Tile,Carpet
Exterior
Exterior Feature Wood Products
Amenities Available Deck,Sprinkler System
Waterfront No
View Y/N No
Roof Type Composition
Building
Lot Description Adjacent to Public Land,Alley,Dead End Street,Open Space,Paved,Sidewalk
Sewer Available,Sewer Connected
Water Public
New Construction Yes
Schools
Elementary Schools Kessler Elem
Middle Schools Monticello Mid
High Schools R A Long High
School District Longview
Others
Acceptable Financing Assumable,Cash Out,Conventional,FHA,Owner Financing
Listing Terms Assumable,Cash Out,Conventional,FHA,Owner Financing