285 22nd Ave, Longview, WA
Multi-family for Sale - $4,200,000 - 18,400 Sq. Ft. on 0.44 acres
Property Info
| CIMLS# | 1153973 |
| Location 285 22nd Ave Longview WA 98632 | |
| Updated | April 5th, 2024 |
| Type | Multi-family |
| Price | $4,200,000 |
| Building | 18,400 Sq. Ft. |
| Land | 0.44 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. Offers remarkable 6.56% cap rate Year 1 Actuals, 11.8 GRM & 23.7% Expense Ratio. 100% occupancy w/ tenant wait list. Mostly market rate tenants but also Section 8 approved, for consistent income. Long-term 5-year medical provider lease in place for 4 units 23% above-market rents. Option for 1-2 more fourplex, if larger portfolio is desired. Offering Memo for portfolio of 4 fourplexes but open to offers for indiv. 4plex(es). Addresses: 285 22nd Ave, 263 20th Ave, 259 20th Ave, 257 20th Ave.