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
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
Building
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Schools
Elementary Schools Kessler
Middle Schools Monticello
High Schools Ra Long
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
