Waveview Fourplex Portfolio 2023-Built
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Waveview Fourplex Portfolio 2023-Built
4 Multifamily Properties Offered at $5,953,374 CAD in Longview, WA
Investment Highlights
- High cap rates on new 2023-built buildings.
- Yearly rent raises on subsidized housing.
- Turnkey with property management for passive 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 the 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
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
Data Room Click Here to Access
- Offering Memorandum
- Miscellaneous
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual (CAD) |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $5,953,374 CAD | Number of Properties | 4 |
| Price / SF | $323.55 CAD / SF | Individually For Sale | 4 |
| Cap Rate | 7.63% | Total Building Size | 18,400 SF |
| Sale Type | Investment | Total Land Area | 0.44 AC |
| Status | Active |
| Price | $5,953,374 CAD |
| Price / SF | $323.55 CAD / SF |
| Cap Rate | 7.63% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 4 |
| Total Building Size | 18,400 SF |
| Total Land Area | 0.44 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 263 20th ave, Longview, WA 98632 | Multifamily | 4,600 SF | 2023 | $1,488,343 CAD |
| 257 20th ave, Longview, WA 98632 | Multifamily | 4,600 SF | 2023 | $1,488,343 CAD |
| 259 20th ave, Longview, WA 98632 | Multifamily | 4,600 SF | 2023 | $1,488,343 CAD |
| 285 22nd Ave, Longview, WA 98632 | Multifamily | 4,600 SF | 2023 | $1,488,343 CAD |
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Waveview Fourplex Portfolio 2023-Built
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