257 20th ave | Longview, WA 98632
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257 20th ave
Longview, WA 98632
Multifamily Property For Sale · 4 Units
Investment Highlights
- High cap rates on new 2023-built buildings.
- Yearly rent raises on subsidized housing.
- Turnkey with property management for passive-income investors. Quarterly unit inspections by PM.
- High demand for 3-bedroom units in the submarket.
Executive Summary
Incredible turnkey multifamily investment! These professionally managed, newly-built townhouse-style rental units are a passive investor’s dream. Built in 2023 this fourplex is part of a portfolio of 16 units all boast spacious 3 bedrooms and 1.5 bathrooms over two stories on 1,150 square feet of living space & are still under builder’s warranty in 2024. Fire Sprinklers installed! It offers a remarkable 6.5% cap rate on Year 1 Stabilized, 11.55 GRM & 24% expense ratio. High demand at 100% occupancy w/ tenant wait list. Mostly market rate tenants - now some Section 8 tenants, which ensures consistent rental income. Quarterly inspection of the units ensure the units are kept in good condition. Quick access to I-5 into Vancouver WA and a bridge over Columbia River into Astoria OR.
Offering Memorandum available for more details. The property is currently being offered as a portfolio of 4 fourplexes, but we are open to offers for individual fourplexes as well. If a larger portfolio is what's desired, there are 2 more fourplexes under development. Addresses of the properties in this portfolio are: 285 22nd Ave, 263 20th Ave, 259 20th Ave, and 257 20th Ave, Longview WA 98632.
For any questions or clarifications, contact listing broker: Jonathan Nicoli/commercial broker 206-330-7100 jonathan@zeptore.com
Offering Memorandum available for more details. The property is currently being offered as a portfolio of 4 fourplexes, but we are open to offers for individual fourplexes as well. If a larger portfolio is what's desired, there are 2 more fourplexes under development. Addresses of the properties in this portfolio are: 285 22nd Ave, 263 20th Ave, 259 20th Ave, and 257 20th Ave, Longview WA 98632.
For any questions or clarifications, contact listing broker: Jonathan Nicoli/commercial broker 206-330-7100 jonathan@zeptore.com
PROPERTY FACTS
Unit Amenities
- Sprinkler System
- Double Pane Windows
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | $1,950 | 1,100 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,371,120 | |
| Land Assessment | $266,960 | Total Assessment | $1,638,080 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$266,960
Improvements Assessment
$1,371,120
Total Assessment
$1,638,080
zoning
| Zoning Code | R04 (Residential up to 4 units) |
| R04 (Residential up to 4 units) |
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