259 20th Avenue , Longview, Wa 98632

WA, Longview

$1,050,000

4,600 Sqft
Residential Income Property Type
2023 Year Built
Expired Status

Listing courtesy: Jonathan Nicoli, CENTURY 21 Real Estate Center

Property Description

Incredible turnkey multifamily investment! Professionally managed, newly-built townhouse-style rental units are a passive investor’s dream. Built in 2023 these 4 units, all boasting 3 bedrooms and 1.5 bathrooms 2-story & under builder’s warranty in 2024. Fire sprinklers! Offers a remarkable 6.0% Cap Rate on Year 1 stabilized, 11.67 GRM. 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.

Source: NWMLS

Basic Details

Property Type: Residential Income
Listing Type: For Sale
Listing ID: 2301931
Price: $1,050,000
Square Footage: 4,600 Sqft
Year Built: 2023
Lot Area: 0.11 Acre
Status: Expired
Office Name: CENTURY 21 Real Estate Center
Agent Name: Jonathan Nicoli
Property Sub Type: Multi-Family
Roof: Composition
New Construction Yn: 1

Features

Heating System Wall Unit(s)
Cooling System None
Exterior Features Wood Products
Flooring Ceramic Tile, Carpet
Interior Features Ceramic Tile, Wall to Wall Carpet
Sewer Sewer Connected, Available

Address Map

Country US
State WA
County Cowlitz
City Longview
Zipcode 98632
Street: 20th
Street Number: 259
Street Suffix: Avenue
Longitude: W123° 2' 40.2''
Latitude: N46° 7' 16.7''
Directions: Directions on Google maps & Apple maps are okay. From Seattle/Tacoma follow I-5 south to exit 36 WA-432 in Kelso and follow thru Tennant Way and turn left into 22nd Ave.
Mls Area Major: 402 - Highlands

Neighborhood

Elementary School: Kessler Elem
High School: R A Long High
High School District: Longview
Middle School: Monticello Mid

Additional Information

Water Source: Public
Stories Total: 2
Possible Use: Multi-Family,Residential
On Market Date: 2024-10-15
Number Of Units Total: 4
Lot Features: Dead End Street, Paved, Sidewalk, Open Space, Alley, Adjacent to Public Land
Foundation Details: Poured Concrete