263 20th Avenue
Longview, WA 98632
$1,050,000
Price
12
Beds
6
Baths
4,600 Sq. Ft.
$228 / Sq. Ft.
4,600
Sq. Ft.
$228
per Sq. Ft.
Listing provided courtesy of CENTURY 21 Real Estate Center
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...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.
- Listed by Jonathan Nicoli • CENTURY 21 Real Estate Center
Property Details for 263 20th Avenue
Community Name
Highlands
School DistrictLongview
Number of Assigned Spaces4
Total Covered Parking0
Entry Date10-15-2024
Energy SourceElectric
SewerAvailable, Sewer Connected
LISTING UPDATED: 11/13/2024 10:56 AM
Property Details for 263 20th Avenue
| Status | Active |
|---|---|
| MLS # | 2301932 |
| Days on Market | 68 |
| Cumulative Days on Market | 68 |
| Taxes | $199 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 2023 |
| Lot Size | 0.11 AC / 4,800 SF |
| County | Cowlitz County |
Building Information for 263 20th Avenue
Stories2Residences4Year Built2023Building Size-Lot Size0.11 AC / 4,800 SF
Property Information for 263 20th Avenue
Summary
Location and General Information
- Style: 54 - 4-Plex
- Site Features: Deck, Sprinkler System
- Area: 402 - Highlands
- Elementary School: Kessler Elem
- Middle Or Junior School: Monticello Mid
- High School: R A Long High
- 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.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 4.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 12
Interior Features
- Fireplaces Total: 0
- Floor Covering: Ceramic Tile, Carpet
- Features: Ceramic Tile, Wall to Wall Carpet
- New Construction: Completed
- Amenities: Fire Sprinklers
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Wall Unit(s)
- FIRPTA: No
Exterior Features
- Exterior: Wood Products
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 6000
- Power Production Type: Electric
Property and Assessments
- New Construction YN: Yes
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Multi-Family,Residential
- Construction Methods: Standard Frame
- Estimated Completion Date: 2023-10-01
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential
- MLS Square Footage Source: Builder
- Preliminary Title Ordered: No
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 16
Lot Information
- Lot Details: Adjacent to Public Land, Alley, Dead End Street, Open Space, Paved, Sidewalk
- Lot Size Source: County
- Parcel Number Free Text: 0-4204
- Building Condition: Very Good
- Calculated Square Footage: 4600
- Structure Type: Quadruplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 4600.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 4
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 4
- Units Below Grade: false
- Units In Building Total: 4
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 7919
- Gross Adjusted Income: 94800
- Gross Rent Multiplier: 11.08
- Gross Scheduled Income: $94,800
- Insurance Expense: $1,420
- Net Operating Income: $86,881
- Other Expenses: $300
- Total Monthly Income: 7900
- Fuel Expense: $0
Unit 1
- Name Unit 1: 263 20th #PG
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 1150
- Rent Unit 1: $2,050.00
- Bedrooms Unit 1: 3
- Bathrooms Unit 1: 2
Unit 2
- Name Unit 2: 263 20th #PM
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 1150
- Rent Unit 2: $1,950.00
- Bedrooms Unit 2: 3
- Bathrooms Unit 2: 2
Unit 3
- Name Unit 3: 263 20th #RM
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 1150
- Rent Unit 3: $1,950.00
- Bedrooms Unit 3: 3
- Bathrooms Unit 3: 2
Unit 4
- Name Unit 4: 263 20th #RD
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 1150
- Rent Unit 4: $1,950.00
- Bedrooms Unit 4: 3
- Bathrooms Unit 4: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 4600.0
- Leasable Area Units: Square Feet
Property History for 263 20th Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 263 20th Avenue
This home is within Longview School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 5 |
Rating | School | Distance |
|---|---|---|
Kessler Elementary School PublicK to 5 | ||
Monticello Middle School Public6 to 8 | ||
R A Long High School Public9 to 12 | ||
Saint Helens Elementary School PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of CENTURY 21 Real Estate Center
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
