3002-3024 Washington Way, Longview, WA 98632
13 Unit Apartment Building | $1,250,000 ($96,154/Unit) | 6.65% Cap Rate | Longview, WA 98632
For Sale
Active
Asking Price $1,250,000
- Property Type
-
Multifamily
- Square Feet
- 8,950 SF
Listing Contacts
- Property Info
Property Overview
The 13-unit complex includes a triplex (built in 1952), eight identical 1bd/1ba units in an 8-plex building (built in 1938), and a duplex (built in 1928). The triplex was fully renovated in the last five years with interior floors, cabinets, counters, appliances, fixtures, and paint, as well as exterior paint, vinyl windows, and a new roof. The units in the remaining buildings are mostly original. They are primed to be renovated at levels consistent with the triplex. The property has below-market rents throughout, with immediate upside. It is 100% occupied with minimal historical vacancy. The approximately one-acre site consists of four parcels. One of the interior parcels, totaling approximately 12,500 SF, has not been developed. It has potential to be developed with additional units. On-site parking includes three separate garages next to the triplex, an 8-car carport next to the 8-plex, and open parking. The triplex has two sets of laundry machines, with one unit sharing a set and the other unit having its own machines, the 3bd unit in the duplex has laundry machines in the basement, and the 1bd unit in the duplex and eight 1bd units in the 8-plex share laundry facilities located adjacent to the 8-plex.
The property is listed in conjunction with 224-228 25th Ave, Longview, WA. The properties are available individually or together.
Please contact Matt Dodd or Sean Milligan for additional information.
The property is listed in conjunction with 224-228 25th Ave, Longview, WA. The properties are available individually or together.
Please contact Matt Dodd or Sean Milligan for additional information.
Property Details
- Class
- C
- Year Built
- 1952
- Stories
- 1
- Lot Size (sq. ft)
- 43,560 SF
- Units
- 13
Nearby Properties
Similar Properties
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