Belfair Condo in West
2005 TIBBETTS DR #203, Longview, WA 98632
For Sale
$175,000
Spacious 2 bed, 1.5 bath condo with updated features.
Property Size1,151 SF
Days on Market630
Property Features for 2005 TIBBETTS DR #203
General Information
Standard status
Size
Property subtype
Amenities
Radiant
Wall Unit
Dishwasher
Free-Standing Range
Free-Standing Refrigerator
Microwave
Deck, Patio, Porch, Composition, Flat
Building Details
Building Size
Year Built
Stories
Listing Agency:
Keller Williams Premier Partners
Listed By:
Sheri Evald
(360) 430-7373
Source:
Kw
Added: Feb 19, 2025
Changed: Nov 9
Last Checked: Nov 10 at 12:57PM
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 Keller Williams Premier Partners
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Investment Insights
Based on property information with market context.
Located in West Longview, this Belfair condo is one of the largest units in the building, offering 1151 square feet of living space. The property features 2 bedrooms and 1.5 bathrooms, a living room, a kitchen with an eating space, and a dining area. The primary bedroom includes a large walk-in closet. A second bedroom can also serve as an office. The unit includes in-unit laundry and updated features. All appliances are included. Additional features include ceiling fans and vinyl windows. The building has an elevator, assigned covered parking, an indoor storage unit area, a deck or balcony, and a community room. The building is secure. It is located within walking distance to many services and close to bus lines for transportation.
Key Highlights
- Largest Unit: Enjoy ample space in this 1151 sqft unit, one of the largest in the building.
- Updated with Modern Amenities: This unit includes updated features and all appliances.
- Convenient Location: A few minutes walk to many services and close to buses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,165
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,300
$243.3K
Cap Rate 7%
$173,786
$173.8K
Cap Rate 9%
$135,167
$135.2K
Market Conditions
NOI Build-Up for 1,151 SF
Gross rent
$23.5K $20.40/SF
− Vacancy
−$1.4K −$1.18/SF
EGI
$22.1K $19.22/SF
− OpEx
−$10.0K −$8.65/SF
NOI
$12.2K $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%
$243,300
Cap Rate 7%
$173,786
Cap Rate 9%
$135,167
Alternative Uses
Best Use
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.2K
$331.8K – $442.4K
NOI $26,546 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
220
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
Frequently Asked Questions
What type of property is this?
Apartment building - Spacious 2 bed, 1.5 bath condo with updated features.
Where is this apartment building located?
The property is located at 2005 TIBBETTS DR #203 Longview, WA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Largest Unit: Enjoy ample space in this 1151 sqft unit, one of the largest in the building.; Updated with Modern Amenities: This unit includes updated features and all appliances.; Convenient Location: A few minutes walk to many services and close to buses.
