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285 22nd Avenue

Longview, WA 98632
  • $4,200,000
  • STATUS: Active
  • MLS #: 2190899
$4,200,000
  • 0
    BEDS
  • 0.44
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 18,400
    SQFT
  • $0
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2023
County:

School Information

Elementary School:
Middle School:
High School:
School District:
Northwest MLS logoListing information ©2024 Northwest MLS. Listing courtesy of CENTURY 21 Real Estate Center.
Mortgage Calculator is provided by BoomTown.

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. Offers remarkable 6.48% cap rate 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 1-2 more fourplex, if larger portfolio is desired. Offering Memo 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.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Reuben Bray Homes | Realty One Group Prestige are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-04T00:14:42.26. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-04T00:14:42.26. 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.
www.reubenbrayhomes.com/homes/146639968
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285 22nd Avenue Longview, WA 98632

  • Price: $4,200,000
  • Status: Active
  • On Site: Days
  • MLS #: 2190899
0
Beds
0
Baths
0
½ Baths
0.44
Acres
18,400
SQFT
$0
$/SQFT
2023
Built
Neighborhood:
Highlands
County:
Cowlitz
Area:
West Kelso Highlands
Elementary School:
Kessler Elem
Middle School:
Monticello Mid
High School:
R A Long High
School District:
Longview
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. Offers remarkable 6.48% cap rate 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 1-2 more fourplex, if larger portfolio is desired. Offering Memo 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.
Exterior Features

Carport Spaces 0 Carport YN No Construction Methods Standard Frame Covered Spaces 0 Exterior Features Wood Products Lot Features Adjacent to Public LandAlleyDead End StreetOpen SpacePavedSidewalk Open Parking Spaces 16 Open Parking YN Yes Parking Total 16 Parking Uncovered Spaces 16 Roof Composition Structure Type Quadruplex Style Code 54 - 4-Plex View YN No Waterfront YN No

Interior Features

Building Area Total 18400 Cooling None Cooling YN No Fireplace YN No Flooring Ceramic TileCarpet Heating Wall Unit(s) Heating YN Yes Interior Features Ceramic TileWall to Wall Carpet Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities Fire Sprinklers Association Fee 0 Association YN No Energy Source Electric Estimated Completion Date 2023-10-01 FIRPTAYN No First Right Of Refusal No Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventionalFHA Net Operating Income 272317 New Construction Completed New Construction YN Yes Possession Closing Possible Use Residential Power Production Type Electric Property Condition Very Good Property Sub Type Multi-Family Senior Community YN No Sewer Available Site Features DeckSprinkler System Special Listing Conditions None Tax Annual Amount 26925 Tax Year 2023 Units In Building Total 16 Water Source Public Zoning Class Residential Zoning Jurisdiction City



The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Reuben Bray Homes | Realty One Group Prestige are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-04T00:14:42.26. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-04T00:14:42.26. 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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Reuben Bray Homes | Realty One Group Prestige
11818 SE Mill Plain Blvd Ste. 403
Vancouver WA, 98684
Northwest MLS logoListing information ©2024 Northwest MLS. Listing courtesy of CENTURY 21 Real Estate Center.
Mortgage Calculator is provided by BoomTown.