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157 Nevada Dr 8 Unit Apartment Building $1,899,999 ($237,500/Unit) 4.86% Cap Rate Longview, WA 98632
Executive Summary
Well maintained 8 Plex. 4 separate townhouse duplex units each on its own tax parcel. Units are approx 1093 square feet with 2 bedrooms, 1.5 baths, Vaulted ceilings, walk in closets and washer/dryer hookups. Each unit has a carport and 2 storage rooms. Private courtyards. Recent updates include Painting, New Roofs, Updated windows and flooring. 32x40 garage/shop with 200 amp service and a loft with 1/2 bath also on the property currently used for income and partially owner occupied. Four tax parcels are included in the sale. Most of the units are private and secluded set back off the road in a quiet wooded setting. Rents will be increased for 7 of the 8 units in July reflecting cap rate of over 5%.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,800
|
$16.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$145,800
|
$16.62
|
| Taxes |
$14,009
|
$1.60
|
| Operating Expenses |
$39,545
|
$4.51
|
| Total Expenses |
$53,554
|
$6.10
|
| Net Operating Income |
$92,246
|
$10.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $145,800 |
| Annual Per SF | $16.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $145,800 |
| Annual Per SF | $16.62 |
| Taxes | |
|---|---|
| Annual | $14,009 |
| Annual Per SF | $1.60 |
| Operating Expenses | |
|---|---|
| Annual | $39,545 |
| Annual Per SF | $4.51 |
| Total Expenses | |
|---|---|
| Annual | $53,554 |
| Annual Per SF | $6.10 |
| Net Operating Income | |
|---|---|
| Annual | $92,246 |
| Annual Per SF | $10.51 |
Property Facts
| Price | $1,899,999 | Apartment Style | Garden |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 4.86% | Building Size | 8,774 SF |
| Gross Rent Multiplier | 14 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | ||
| Zoning | UR0 | ||
| Price | $1,899,999 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 4.86% |
| Gross Rent Multiplier | 14 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 8,774 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Zoning | UR0 |
Amenities
Unit Amenities
- Dishwasher
- Storage Space
- Washer/Dryer Hookup
- Heating
- Kitchen
- Vaulted Ceiling
- Refrigerator
- Range
- Tub/Shower
- Dining Room
- Double Pane Windows
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 8 | $1,438 | 1,093 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 6-121101 | Total Assessment | $398,010 |
| Land Assessment | $44,690 | Annual Taxes | $14,009 ($1.60/SF) |
| Improvements Assessment | $353,320 | Tax Year | 2025 |
Property Taxes
Parcel Number
6-121101
Land Assessment
$44,690
Improvements Assessment
$353,320
Total Assessment
$398,010
Annual Taxes
$14,009 ($1.60/SF)
Tax Year
2025
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