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823 8th Ave - 823 8th Avenue 2 Unit Apartment Building Offered at $469,900 at a 3.57% Cap Rate Longview, WA 98632
Executive Summary
Investment opportunity! Duplex-each unit features 3 spacious bedrooms, 1 bathroom, fireplaces, washer and dryer hookups and a single car garage and parking pad with alley access. Great location downtown close to health care, shopping, restaurants, the fairgrounds and I-5. Long Term tenants in place. The property has potential to increase income if personally managed. Rents are below market. Tenants pay all utilities. Live in one unit and rent the other or add to your portfolio!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$26,400
|
$11.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$26,400
|
$11.54
|
| Taxes |
$3,027
|
$1.32
|
| Operating Expenses |
$6,595
|
$2.88
|
| Total Expenses |
$9,622
|
$4.21
|
| Net Operating Income |
$16,778
|
$7.33
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $26,400 |
| Annual Per SF | $11.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $26,400 |
| Annual Per SF | $11.54 |
| Taxes | |
|---|---|
| Annual | $3,027 |
| Annual Per SF | $1.32 |
| Operating Expenses | |
|---|---|
| Annual | $6,595 |
| Annual Per SF | $2.88 |
| Total Expenses | |
|---|---|
| Annual | $9,622 |
| Annual Per SF | $4.21 |
| Net Operating Income | |
|---|---|
| Annual | $16,778 |
| Annual Per SF | $7.33 |
Property Facts
| Price | $469,900 | Property Type | Multifamily |
| Price Per Unit | $234,950 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 2,288 SF |
| Cap Rate | 3.57% | Average Occupancy | 100% |
| Gross Rent Multiplier | 17.8 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1978 |
| Zoning | R04 - Residential Under 4 Units | ||
| Price | $469,900 |
| Price Per Unit | $234,950 |
| Sale Type | Investment |
| Cap Rate | 3.57% |
| Gross Rent Multiplier | 17.8 |
| No. Units | 2 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 2,288 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1978 |
| Zoning | R04 - Residential Under 4 Units |
Amenities
Unit Amenities
- Dishwasher
- Fireplace
- Washer/Dryer Hookup
- Heating
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Carpet
- Deck
- Double Pane Windows
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | $1,100 | 1,144 |
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Property Taxes
| Parcel Number | 0-8606 | Total Assessment | $349,230 (2024) |
| Land Assessment | $25,000 (2024) | Annual Taxes | $3,027 ($1.32/SF) |
| Improvements Assessment | $324,230 (2024) | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
0-8606
Land Assessment
$25,000 (2024)
Improvements Assessment
$324,230 (2024)
Total Assessment
$349,230 (2024)
Annual Taxes
$3,027 ($1.32/SF)
Tax Year
2025 Payable 2025
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Presented by
John L. Scott
823 8th Ave - 823 8th Avenue
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