Fully Occupied
For Sale
$700,000
3244 Old Lewis River Road, Woodland, WA 98674
Four residential units provide two bedrooms, one bathroom, and shared laundry in a quiet setting.
Property Size3,472 SF
Price / SF$201.61
Days on Market150
Property Features for 3244 Old Lewis River Road
General Information
Standard status
Active
Size
3,472 SF
Total Parking Spaces
4
Property subtype
Multi Family
Zoning
UZ
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,488
Amenities
on-site laundry facilities
2
Crawl Space
Metal
Wood Siding
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Keller Williams-PDX Central
(971) 222-1550
Listed By:
Nick Shivers · License #200209063
(971) 222-1550
Source:
Compass
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 8:40AM
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-PDX Central
Investment Insights
Based on property information with market context.
Built in 1972, this 3,472-square-foot quadplex contains four residential units, each arranged with two bedrooms and one bathroom. The property is fully occupied, with long-term tenants in place, and includes on-site laundry. Exterior construction combines metal and wood siding, while crawl space provides the subfloor configuration.
The property is located at 3244 Old Lewis River Road in Woodland, Washington, near Lewis River Golf Course. Zoning is designated UZ.
The property is located at 3244 Old Lewis River Road in Woodland, Washington, near Lewis River Golf Course. Zoning is designated UZ.
Key Highlights
- Four‑unit quadplex with 2 bedrooms and 1 bathroom per unit
- 3,472 square feet of property area
- Fully occupied with long‑term tenants in place
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
$39,963
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
5.71%
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%
$799,260
$799.3K
Cap Rate 7%
$570,900
$570.9K
Cap Rate 9%
$444,033
$444.0K
Market Conditions
NOI Build-Up for 3,472 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
$60.4K $17.40/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$57.1K $16.44/SF
− OpEx
−$17.1K −$4.93/SF
NOI
$40.0K $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%
$799,260
Cap Rate 7%
$570,900
Cap Rate 9%
$444,033
Alternative Uses
Best Use
Multifamily LT 5
$570.9K
$499.5K – $666.1K
NOI $39,963 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$524.2K
$458.7K – $611.6K
NOI $36,696 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,075 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 98674, WA
14,415
Population
5,830
Households
2.5
Avg Household Size
39
Median Age
19%
College-Educated
87%
High-School Grad
86.5 sq mi
ZIP Area
167
Density / Sq Mi
$96,081
Median Household Income
$46,976
Median Earnings
$1,283
Median Rent
$481,100
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 - Four residential units provide two bedrooms, one bathroom, and shared laundry in a quiet setting.
Where is this quadplex located?
The property is located at 3244 Old Lewis River Road Woodland, WA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2 bedrooms and 1 bathroom per unit; 3,472 square feet of property area; Fully occupied with long‑term tenants in place
