Property Photo: 285 22nd Avenue WA 98632

Listing Courtesy of:

Northwest MLS / Century 21 Real Estate Center

285 22nd Avenue Longview, WA 98632

Active (38 Days)

$4,200,000

18,400

SQFT

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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.

MLS #:
2301606

Taxes
$796(2024)

Lot Size
0.44 acres

Type
Multifamily

Year Built
2023

Style
4-Plex

School District
Longview

County
Cowlitz County

Community
Highlands

Listed By

Jonathan Nicoli, Century 21 Real Estate Center

Source
Northwest MLS as distributed by MLS Grid
Last checked Nov 21 2024 at 7:50 AM GMT+0000

Bathroom Details

Interior Features

Wall to Wall Carpet
Ceramic Tile

Subdivision

Highlands

Lot Information

Sidewalk
Paved
Open Space
Dead End Street
Alley
Adjacent to Public Land

Property Features

Sprinkler System
Deck
Fireplace: 0
Foundation: Poured Concrete

Heating and Cooling

Wall Unit(s)

Flooring

Carpet
Ceramic Tile

Exterior Features

Wood Products
Roof: Composition

Utility Information

Sewer: Sewer Connected, Available
Fuel: Electric

School Information

Elementary School: Kessler Elem
Middle School: Monticello Mid
High School: R a Long High

Location

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Mortgage calculator estimates are provided by Windermere Real Estate and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.

Disclaimer: Based on information submitted to the MLS GRID as of 2024 11/20/24 23:50. 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.