Bought with eXp Realty LLC
$1,050,000
$4,200,000
75.0%For more information regarding the value of a property, please contact us for a free consultation.
18,400 SqFt
SOLD DATE : 03/13/2025
Key Details
Sold Price $1,050,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 18,400 sqft
Price per Sqft $57
MLS Listing ID 24254219
Sold Date 03/13/25
Year Built 2023
Annual Tax Amount $26,925
Tax Year 2023
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. 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.
Location
State WA
County Cowlitz
Area _82
Zoning 4 plex
Interior
Heating Wall Heater
Cooling None
Exterior
Roof Type Composition
Garage No
Building
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 2
Schools
Elementary Schools Kessler
Middle Schools Monticello
High Schools Ra Long
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
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