Well-Maintained 8-Plex Townhome-Style
157 NEVADA DR Longview, WA 98632
New
For Sale
Contact for pricing
8 townhouse-style units with private courtyards, carports, and recent exterior and interior updates.
Property Size8,744 SF
Price / SF$217.29
Days on Market7
Property Features for 157 NEVADA DR
General Information
Standard status
Active
Size
8,744 SF
Property subtype
Multifamily
Building Details
Year Built
1978
Listing Agency:
John L Scott Inc
(360) 425-5815
Listed By:
Diane Lokan · License #96432
Source:
Crexi
Added: Jul 24
Changed: Jul 30
Last Checked: Jul 30 at 4:52AM
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 Inc
Investment Insights
Based on property information with market context.
This well-maintained 8-plex features four separate townhouse duplex units, each on its own tax parcel. The individual units are approximately 1,093 square feet and include 2 bedrooms and 1.5 baths with vaulted ceilings, walk-in closets, and washer/dryer hookups. Each unit has a carport and 2 storage rooms, along with private courtyards.
Recent updates include painting, new roofs, updated windows, and updated flooring. The property also includes a 32 x 40 garage/shop with 200 amp service and a loft with a 1/2 bath, which is currently used for income and partially owner occupied. The sale includes four tax parcels.
The units are set back off the road in a quiet wooded setting, with most units described as private and secluded. The property was built in 1978.
Recent updates include painting, new roofs, updated windows, and updated flooring. The property also includes a 32 x 40 garage/shop with 200 amp service and a loft with a 1/2 bath, which is currently used for income and partially owner occupied. The sale includes four tax parcels.
The units are set back off the road in a quiet wooded setting, with most units described as private and secluded. The property was built in 1978.
Key Highlights
- Four townhouse duplex units, each on its own tax parcel
- Approximately 1,093 SF per unit with 2 bedrooms and 1.5 baths
- Vaulted ceilings, walk‑in closets, and washer/dryer hookups in each unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $178.4k | $20.40 |
| − Vacancy | −$10.3k | −$1.18 |
| EGI | $168.0k | $19.22 |
| − OpEx | −$75.6k | −$8.65 |
| NOI | $92.4k | $10.57 |
8,744 SF · lease $20.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,417 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,663 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 8 townhouse-style units with private courtyards, carports, and recent exterior and interior updates.
Where is this apartment building located?
The property is located at 157 NEVADA DR Longview, WA.
What is the asking price?
The asking price for this property is $1,899,999.
What are key features of this property?
This property features: Four townhouse duplex units, each on its own tax parcel; Approximately 1,093 SF per unit with 2 bedrooms and 1.5 baths; Vaulted ceilings, walk‑in closets, and washer/dryer hookups in each unit
