Historic Church and Two-Apartment
For Sale
$750,000
202 S 4TH Ave, Ridgefield, WA 98642
MULTI_FAMILY - Ridgefield, WA
Property Size4,742 SF
Price / SF$158.16
Days on Market18
Property Features for 202 S 4TH Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
9-11
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
High school
Ridgefield
Directions
West on Pioneer, Left on 4th Avenue
Subdivision
_50
Standard status
Active
APN
069168000
Size
4,742 SF
Taxes and HOA fees
Tax Description
UNRECD LAMBERT & SARGENTS ADDN #2 LOT 9 & ALL LOT 10 BLK 6 FOR AS
Tax Annual Amount
10167
Legal Description
UNRECD LAMBERT & SARGENTS ADDN #2 LOT 9 & ALL LOT 10 BLK 6 FOR AS
Utilities
Cooling system
Central Air
Building Details
Year built
1945
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Chris Balmes Properties LLC
(503) 427-0372
Listed By:
Lisa Balmes PC
(503) 901-6545
Added: Jul 16
Changed: Aug 2
Last Checked: Aug 2 at 11:06AM
MLS# 724213223
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-of-a-kind property combines a historic church with a separate building that includes two leased apartments. The configuration supports flexible use, whether you’re seeking a church space with additional revenue from the apartments or exploring a mixed-use setup for the combined buildings.
Built in 1945, the church portion is complemented by the additional apartment structure, providing a practical live-and-work layout within the same property. The property is zoned 9-11. Central air and a composition roof are noted improvements.
The total property size is 4,742 square feet, offering a compact footprint that may appeal to operators looking for a multi-purpose facility in Ridgefield.
Built in 1945, the church portion is complemented by the additional apartment structure, providing a practical live-and-work layout within the same property. The property is zoned 9-11. Central air and a composition roof are noted improvements.
The total property size is 4,742 square feet, offering a compact footprint that may appeal to operators looking for a multi-purpose facility in Ridgefield.
Key Highlights
- Historic church with a separate building featuring two leased apartments
- Zoned 9‑11
- Total property size: 4,742 square feet
Financial Insights For Multifamily LT 5
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 | $93.9k | $19.80 |
| − Vacancy | −$5.6k | −$1.19 |
| EGI | $88.3k | $18.61 |
| − OpEx | −$26.5k | −$5.58 |
| NOI | $61.8k | $13.03 |
4,742 SF · lease $19.80/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$882.6K
$772.3K – $1.03M
NOI $61,781 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$824.0K
$721.0K – $961.4K
NOI $57,681 @ 7.0% cap · market cap 7.69%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,869 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 98642, WA
23,685
Population
9,736
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
96%
High-School Grad
56.8 sq mi
ZIP Area
417
Density / Sq Mi
$119,316
Median Household Income
$62,710
Median Earnings
$1,938
Median Rent
$622,800
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?
Church & religious facility - Historic church plus a separate building with two leased apartments, with central air and a composition roof.
Where is this church & religious facility located?
The property is located at 202 S 4TH Ave Ridgefield, WA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Historic church with a separate building featuring two leased apartments; Zoned 9‑11; Total property size: 4,742 square feet
