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180 2nd St 3 Unit Apartment Building $535,000 ($178,333/Unit) 6.70% Cap Rate Cathlamet, WA 98612
Investment Highlights
- Corner Lot, One Large Lower Unit, Two Upper Units
- Desirable Downtown/Walkable Location, close to services, restaurants & shopping
- Updated Mult Family Tri Plex near Elochoman Marina
Executive Summary
Step back in time with this 1920s triplex overlooking the Columbia River. Perfectly positioned on a corner lot in the heart of downtown Cathlamet, this vintage gem combines historic character with modern amenities and income potential. Enjoy river views and a vibrant, stroll-able lifestyle - just steps away from local shops, art gallery, craft brewery, dining options and the marina. Whether you're looking for multi-generational estate or turnkey investment, this property's charm and unbeatable location make it a rare find in Wahkiakum County. Well maintained and updated units with onsite laundry and BRAND SPANKING NEW ROOF professionally installed 3/2026! Short distance from the market, library, riverfront and services such as baking & pharmacy - it's a dream for tenants or for that owner-occupant seeking a peaceful yet connected community. Steady rental appeal with strong tenants and solid rents. Great house-hack potential, live in one unit and let the rents pay the way or step into this turnkey performer and build your rental portfolio. Larger, street level, unit has a yard with mature landscaping, additional storage and laundry. Two upper units have been recently renovated and share a laundry. Don't miss a chance to own a piece of history in one of the river's most picturesque towns, just a quick trip across the ferry to the Oregon Coast or head west to the Long Beach Peninsula and its array of clamming, crabbing, charter fishing, kite festivals & more!
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $535,000 | Building Class | C |
| Price Per Unit | $178,333 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 4,250 SF |
| Cap Rate | 6.70% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2018 |
| Property Subtype | Apartment | Parking Ratio | 0.71/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Multi Family/Mixed - Cathlamet is "highest and best use" / mixed use | ||
| Price | $535,000 |
| Price Per Unit | $178,333 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,250 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2018 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | Multi Family/Mixed - Cathlamet is "highest and best use" / mixed use |
Amenities
- Smoke Detector
Unit Amenities
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Sunroom
- Yard
- Basement
- Office
- Porch
- Vinyl Flooring
- Workshop
Site Amenities
- Courtyard
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,318 | 744 - 1,446 |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 20806420022 | Total Assessment | $384,100 (2024) |
| Land Assessment | $26,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $357,300 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
20806420022
Land Assessment
$26,800 (2024)
Improvements Assessment
$357,300 (2024)
Total Assessment
$384,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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180 2nd St
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