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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

PROPERTY FACTS

Price Per Unit $369,180 CAD
Sale Type Investment
Cap Rate 8.16%
Sale Conditions Bulk/Portfolio Sale
Gross Rent Multiplier 11.22
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Townhome
Building Class B
Lot Size 0.11 AC
Building Size 4,600 SF
Average Occupancy 100%
No. Stories 2
Year Built 2023
Parking Ratio 0.87/1,000 SF

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 $2,742 CAD 1,100

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 0-42030100
  • 0-42040100
  • 0-4204
  • 0-4205
  • 0-4203
Land Assessment
$376,128 CAD
Improvements Assessment
$1,931,812 CAD
Total Assessment
$2,307,940 CAD

zoning

Zoning Code R04 (Residential up to 4 units)
R04 (Residential up to 4 units)
  • Listing ID: 33554664

  • Date on Market: 2024-10-17

  • Last Updated:

  • Address: 257 20th ave, Longview, WA 98632

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