Updated Six-Unit Apartment
100 CORDUROY RD, Kelso, WA 98626
For Sale
$550,000
Six studio apartments feature refreshed interiors, with water, sewer, and garbage included in rents.
Property Size2,184 SF
Days on Market984
Property Features for 100 CORDUROY RD
General Information
Standard status
Size
Property subtype
Additional Details
Utilities to Site
Unit Mix
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Found It LLC
Listed By:
Leilani Powell · License #201206142
(503) 804-0587
Source:
Currangrouprealtors
Added: Feb 29, 2024
Changed: Nov 6
Last Checked: Nov 8 at 2:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Found It LLC
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Investment Insights
Based on property information with market context.
This 2,184-square-foot apartment property contains six studio units with updated interiors. Two units were added in 2021, and the building received a new roof in 2019. The property was built in 1994.
The building occupies a corner lot at 100 Corduroy Rd in Kelso. Recent site work includes paving around the property, along with a new fire hydrant and vault at the lot corner.
Water, sewer, and garbage are included in rents. Tenants pay separately for electricity, cable, and internet.
The building occupies a corner lot at 100 Corduroy Rd in Kelso. Recent site work includes paving around the property, along with a new fire hydrant and vault at the lot corner.
Water, sewer, and garbage are included in rents. Tenants pay separately for electricity, cable, and internet.
Key Highlights
- Six studio apartments with refreshed interiors
- Two units added in 2021
- New roof installed in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,083
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,660
$461.7K
Cap Rate 7%
$329,757
$329.8K
Cap Rate 9%
$256,478
$256.5K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$44.6K $20.40/SF
− Vacancy
−$2.6K −$1.18/SF
EGI
$42.0K $19.22/SF
− OpEx
−$18.9K −$8.65/SF
NOI
$23.1K $10.57/SF
Area
Cowlitz County, WA
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,660
Cap Rate 7%
$329,757
Cap Rate 9%
$256,478
Alternative Uses
Best Use
Apartment 5plus
$329.8K
$288.5K – $384.7K
NOI $23,083 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$719.6K
$629.6K – $839.5K
NOI $50,370 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
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Business Placement
Demographics for 98626, WA
26,291
Population
10,642
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
134.6 sq mi
ZIP Area
195
Density / Sq Mi
$70,058
Median Household Income
$40,996
Median Earnings
$1,169
Median Rent
$339,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Six studio apartments feature refreshed interiors, with water, sewer, and garbage included in rents.
Where is this apartment building located?
The property is located at 100 CORDUROY RD Kelso, WA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Six studio apartments with refreshed interiors; Two units added in 2021; New roof installed in 2019
