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1951 Louisiana St 8 Unit Apartment Building $1,250,000 ($156,250/Unit) 5.09% Cap Rate Longview, WA 98632
EXECUTIVE SUMMARY
A rare opportunity to own a prime 8 plex in the heart of the Old Westside overlooking Vandercook Park. The Park Vista has one unit with 3 Bedrooms, 2 baths and 2 woodburning fireplaces. The other 7 units have 2 bedrooms, 1 bath and a woodburning fireplace in each unit. The units have exterior balconies overlooking the Park, One enclosed garage space per unit and one storage closet in the basement per unit. Some units have been nicely updated. There is a utility room in the basement with one washer and dryer for the tenants convenience. Maintenance storage. Water, Sewer, Garbage are paid by the Landlord all other utilties are paid by the tenants. Gated private courtyard the tenants share as common area. Long Term Tenants in place.
FINANCIAL SUMMARY (ACTUAL - 2023) 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 - 2023) 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 | $1,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $156,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 5.09% | Building Size | 12,001 SF |
| Gross Rent Multiplier | 14.23 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | ||
| Zoning | R03 | ||
| Price | $1,250,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| Cap Rate | 5.09% |
| Gross Rent Multiplier | 14.23 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 12,001 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Zoning | R03 |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Fireplace
- Storage Space
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Carpet
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $1,500 | 1,200 |
| 2+1 | 7 | $850.00 | 900 |
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 0-0730 | Total Assessment | $895,520 (2024) |
| Land Assessment | $131,190 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $764,330 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0-0730
Land Assessment
$131,190 (2024)
Improvements Assessment
$764,330 (2024)
Total Assessment
$895,520 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
1 of 19
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Presented by
John L. Scott
1951 Louisiana St
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