Quadplex with Three-Bedroom
For Sale
$825,000
106 17th Ave, Longview, WA 98632
Constructed in 2008, the property contains residential units with three bedrooms and one-and-a-half baths.
Property Size4,000 SF
Price / SF$206.25
Days on Market22
Property Features for 106 17th Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Building Details
Year Built
2008
Listing Agency:
John L. Scott Real Estate
(360) 921-8990
Listed By:
Gary Drake
Source:
Evokepropertypartners
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 28 at 7:56PM
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 John L. Scott Real Estate
Investment Insights
Based on property information with market context.
This quadplex contains four residential units, each measuring 1,000 square feet and configured with three bedrooms and 1.5 bathrooms. The building was constructed in 2008, with a total property size of 4,000 square feet.
The property is located at 106 17th Ave in Longview, Washington 98632. Its four-unit configuration and consistent floor plans provide a clearly defined residential income property format.
The property is located at 106 17th Ave in Longview, Washington 98632. Its four-unit configuration and consistent floor plans provide a clearly defined residential income property format.
Key Highlights
- Four‑unit quadplex configuration
- 1,000‑square‑foot units
- Three bedrooms and 1.5 bathrooms per unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,040
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,800
$920.8K
Cap Rate 7%
$657,714
$657.7K
Cap Rate 9%
$511,556
$511.6K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.6K $17.40/SF
− Vacancy
−$3.8K −$0.96/SF
EGI
$65.8K $16.44/SF
− OpEx
−$19.7K −$4.93/SF
NOI
$46.0K $11.51/SF
Area
Cowlitz County, WA
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,800
Cap Rate 7%
$657,714
Cap Rate 9%
$511,556
Alternative Uses
Best Use
Multifamily LT 5
$657.7K
$575.5K – $767.3K
NOI $46,040 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$604.0K
$528.5K – $704.6K
NOI $42,277 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,252 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 98632, WA
50,721
Population
21,787
Households
2.3
Avg Household Size
41
Median Age
16%
College-Educated
90%
High-School Grad
121.4 sq mi
ZIP Area
418
Density / Sq Mi
$64,705
Median Household Income
$40,928
Median Earnings
$1,142
Median Rent
$355,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Constructed in 2008, the property contains residential units with three bedrooms and one-and-a-half baths.
Where is this quadplex located?
The property is located at 106 17th Ave Longview, WA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 1,000‑square‑foot units; Three bedrooms and 1.5 bathrooms per unit
