285 22nd Avenue Longview, WA 98632
Listing Courtesy of: Northwest MLS / Century 21 Real Estate Center / Jonathan Nicoli

  285 22nd Avenue Longview, WA 98632

Active (17 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 1 2024 at 3:00 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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Disclaimer: Based on information submitted to the MLS GRID as of 2024 10/31/24 20:00. 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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