285 22nd Avenue
Longview, WA 98632
$4,200,000
Price
48
Beds
24
Baths
18,400 Sq. Ft.
$228 / Sq. Ft.
18,400
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 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...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.
- Listed by Jonathan Nicoli • CENTURY 21 Real Estate Center
Property Details for 285 22nd Avenue
Community Name
Highlands
School DistrictLongview
Number of Assigned Spaces16
Total Covered Parking0
Entry Date10-14-2024
Energy SourceElectric
SewerAvailable, Sewer Connected
LISTING UPDATED: 11/13/2024 10:56 AM
Property Details for 285 22nd Avenue
| Status | Active |
|---|---|
| MLS # | 2301606 |
| Days on Market | 38 |
| Cumulative Days on Market | 38 |
| Taxes | $796 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 2023 |
| Lot Size | 0.44 AC / 19,200 SF |
| County | Cowlitz County |
Building Information for 285 22nd Avenue
Stories2Residences16Year Built2023Building Size-Lot Size0.44 AC / 19,200 SF
Property Information for 285 22nd 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: 2024
- Additional Tax Ids: 04204,042040100,04205
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 16.0
- 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: 48
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: 24000
- 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: 23
Lot Information
- Lot Details: Adjacent to Public Land, Alley, Dead End Street, Open Space, Paved, Sidewalk
- Lot Size Source: County
- Parcel Number Free Text: 0-4246
- Building Condition: Very Good
- Calculated Square Footage: 18400
- Structure Type: Quadruplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 18400.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 16
- Number of Stories in Building: 2
- Vacancy Rate: 1
- Number Of Units Total: 16
- Units Below Grade: false
- Units In Building Total: 16
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 50412
- Gross Adjusted Income: 371024
- Gross Rent Multiplier: 11.22
- Gross Scheduled Income: $374,772
- Insurance Expense: $5,680
- Net Operating Income: $320,612
- Other Expenses: $19,936
- Total Monthly Income: 31231
- Fuel Expense: $0
Unit 1
- Name Unit 1: 285 22nd #PG
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 1150
- Rent Unit 1: $1,950.00
- Bedrooms Unit 1: 3
- Bathrooms Unit 1: 2
Unit 2
- Name Unit 2: 285 22nd #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: 285 22nd #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: 285 22nd #RD
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 1150
- Rent Unit 4: $1,881.00
- Bedrooms Unit 4: 3
- Bathrooms Unit 4: 2
Unit 5
- Name Unit 5: 263 20th #PG
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Square Feet Unit 5: 1150
- Rent Unit 5: $2,050.00
- Bedrooms Unit 5: 3
- Bathrooms Unit 5: 2
Unit 6
- Name Unit 6: 263 20th #PM
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Square Feet Unit 6: 1150
- Rent Unit 6: $1,950.00
- Bedrooms Unit 6: 3
- Bathrooms Unit 6: 2
Unit 7
- Name Unit 7: 263 20th #RM
- Range/Oven Unit 7: true
- Refrigerator Unit 7: true
- Dishwasher Unit 7: true
- Square Feet Unit 7: 1150
- Rent Unit 7: $1,950.00
- Bedrooms Unit 7: 3
- Bathrooms Unit 7: 2
Unit 8
- Name Unit 8: 263 20th #RD
- Range/Oven Unit 8: true
- Refrigerator Unit 8: true
- Dishwasher Unit 8: true
- Square Feet Unit 8: 1150
- Rent Unit 8: $1,950.00
- Bedrooms Unit 8: 3
- Bathrooms Unit 8: 2
Unit 9
- Name Unit 9: 259 20th #PG
- Range/Oven Unit 9: true
- Refrigerator Unit 9: true
- Dishwasher Unit 9: true
- Square Feet Unit 9: 1150
- Rent Unit 9: $1,950.00
- Bedrooms Unit 9: 3
- Bathrooms Unit 9: 2
Unit 10
- Name Unit 10: 259 20th #PM
- Range/Oven Unit 10: true
- Refrigerator Unit 10: true
- Dishwasher Unit 10: true
- Square Feet Unit 10: 1150
- Rent Unit 10: $1,950.00
- Bedrooms Unit 10: 3
- Bathrooms Unit 10: 2
Unit 11
- Name Unit 11: 259 20th #RM
- Range/Oven Unit 11: true
- Refrigerator Unit 11: true
- Dishwasher Unit 11: true
- Square Feet Unit 11: 1150
- Rent Unit 11: $1,950.00
- Bedrooms Unit 11: 3
- Bathrooms Unit 11: 2
Unit 12
- Name Unit 12: 259 20th #RD
- Range/Oven Unit 12: true
- Refrigerator Unit 12: true
- Dishwasher Unit 12: true
- Square Feet Unit 12: 1150
- Rent Unit 12: $1,950.00
- Bedrooms Unit 12: 3
- Bathrooms Unit 12: 2
Unit 13
- Name Unit 13: 257 20th #PG
- Range/Oven Unit 13: true
- Refrigerator Unit 13: true
- Dishwasher Unit 13: true
- Square Feet Unit 13: 1150
- Rent Unit 13: $1,950.00
- Bedrooms Unit 13: 3
- Bathrooms Unit 13: 2
Unit 14
- Name Unit 14: 257 20th #PM
- Range/Oven Unit 14: true
- Refrigerator Unit 14: true
- Dishwasher Unit 14: true
- Square Feet Unit 14: 1150
- Rent Unit 14: $1,950.00
- Bedrooms Unit 14: 3
- Bathrooms Unit 14: 2
Unit 15
- Name Unit 15: 257 20th #RM
- Range/Oven Unit 15: true
- Refrigerator Unit 15: true
- Dishwasher Unit 15: true
- Square Feet Unit 15: 1150
- Rent Unit 15: $1,950.00
- Bedrooms Unit 15: 3
- Bathrooms Unit 15: 2
Unit 16
- Name Unit 16: 257 20th #RD
- Range/Oven Unit 16: true
- Refrigerator Unit 16: true
- Dishwasher Unit 16: true
- Square Feet Unit 16: 1150
- Rent Unit 16: $1,950.00
- Bedrooms Unit 16: 3
- Bathrooms Unit 16: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 18400.0
- Leasable Area Units: Square Feet
Property History for 285 22nd 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.
Public Records for 285 22nd Avenue
Taxable ValueLand$21,500Additions-Total$21,500
Tax Record2024$198 ($17 / month)
Home Facts
Beds0StyleMiscellaneous Vacant LandYear Built1900CountyCOWLITZAPN04246
Schools near 285 22nd 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 - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Saint Helens Elementary School PublicK to 5 | ||
Monticello Middle School Public6 to 8 | ||
R A Long High School Public9 to 12 | ||
Longview Virtual Academy Public6 to 12 |
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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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.
