Renovated Triplex with Off-Street
For Sale
$510,000
285 20th Ave, Longview, WA 98632
Three updated rental units include separate laundry hookups, refreshed interiors, and off-street parking.
Property Size1,748 SF
Price / SF$291.76
Days on Market33
Property Features for 285 20th Ave
General Information
Standard status
Active
Size
1,748 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1928
Listing Agency:
John L. Scott Real Estate
Listed By:
Diane Lokan · License #96432
(360) 425-5815
Source:
Wyndeekono
Added: Aug 12
Changed: Sep 8
Last Checked: Sep 13 at 3:07PM
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 renovated triplex at 285 20th Ave in Longview, WA includes two main-level one-bedroom, one-bath units and an upstairs two-bedroom, one-bath unit. The property underwent a comprehensive renovation with new electrical, plumbing, roofing, insulation, drywall, Hardie Plank Siding, appliances, fixtures, carpet, and Vinyl Plank flooring. Each unit includes Washer and Dryer hookups, supporting convenient residential use across the building.
Off-street parking serves the property. The three-unit configuration provides a mix of one- and two-bedroom layouts within a single multifamily asset, with updated building systems and finishes throughout.
Off-street parking serves the property. The three-unit configuration provides a mix of one- and two-bedroom layouts within a single multifamily asset, with updated building systems and finishes throughout.
Key Highlights
- Three‑unit property with two one‑bedroom units and one two‑bedroom unit
- New electrical, plumbing, roof, insulation, and drywall
- Hardie Plank Siding installed during renovation
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
$20,120
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
3.95%
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%
$402,400
$402.4K
Cap Rate 7%
$287,429
$287.4K
Cap Rate 9%
$223,556
$223.6K
Market Conditions
NOI Build-Up for 1,748 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
$30.4K $17.40/SF
− Vacancy
−$1.7K −$0.96/SF
EGI
$28.7K $16.44/SF
− OpEx
−$8.6K −$4.93/SF
NOI
$20.1K $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%
$402,400
Cap Rate 7%
$287,429
Cap Rate 9%
$223,556
Alternative Uses
Best Use
Multifamily LT 5
$287.4K
$251.5K – $335.3K
NOI $20,120 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$263.9K
$230.9K – $307.9K
NOI $18,475 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$575.9K
$503.9K – $671.9K
NOI $40,314 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
290
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated rental units include separate laundry hookups, refreshed interiors, and off-street parking.
Where is this triplex located?
The property is located at 285 20th Ave Longview, WA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Three‑unit property with two one‑bedroom units and one two‑bedroom unit; New electrical, plumbing, roof, insulation, and drywall; Hardie Plank Siding installed during renovation
