Quadplex with Shared
For Sale
$700,000
504 N 7th Ave, Kelso, WA 98626
Rental property with varied unit layouts, individual storage, covered parking, and on-site laundry.
Property Size3,326 SF
Price / SF$210.46
Days on Market36
Property Features for 504 N 7th Ave
General Information
Standard status
Active
Size
3,326 SF
Property subtype
Multi-Family
Building Details
Year Built
1966
Listing Agency:
Windermere Northwest Living
(360) 425-3020
Listed By:
David Thelin · License #18448
Source:
Wisser
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 26 at 9:06AM
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 Windermere Northwest Living
Investment Insights
Based on property information with market context.
Located at 504 N 7th Ave in Kelso, WA, this 3,326-square-foot quadplex was built in 1966. Three apartments offer two bedrooms and one bathroom, while the fourth provides three bedrooms. The three two-bedroom units each include a dedicated storage unit and covered parking space. A shared balcony serves the residents.
The property also includes an on-site laundry room with a recently installed electrical panel and a dedicated hot water tank. Coin-operated laundry equipment generates additional income. The asset has a reported current cap rate of approximately 7.5% and a history of stable, long-term tenancy.
The property also includes an on-site laundry room with a recently installed electrical panel and a dedicated hot water tank. Coin-operated laundry equipment generates additional income. The asset has a reported current cap rate of approximately 7.5% and a history of stable, long-term tenancy.
Key Highlights
- 3,326‑square‑foot quadplex built in 1966
- Three 2‑bedroom, 1‑bath units plus one 3‑bedroom unit
- Dedicated storage units and covered parking for the three 2‑bedroom units
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
$38,283
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
5.47%
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%
$765,660
$765.7K
Cap Rate 7%
$546,900
$546.9K
Cap Rate 9%
$425,367
$425.4K
Market Conditions
NOI Build-Up for 3,326 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
$57.9K $17.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$54.7K $16.44/SF
− OpEx
−$16.4K −$4.93/SF
NOI
$38.3K $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%
$765,660
Cap Rate 7%
$546,900
Cap Rate 9%
$425,367
Alternative Uses
Best Use
Multifamily LT 5
$546.9K
$478.5K – $638.1K
NOI $38,283 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$502.2K
$439.4K – $585.9K
NOI $35,153 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$1.10M
$958.9K – $1.28M
NOI $76,708 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 98626, WA
26,291
Population
10,642
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
90%
High-School Grad
134.6 sq mi
ZIP Area
195
Density / Sq Mi
$70,058
Median Household Income
$40,996
Median Earnings
$1,169
Median Rent
$339,800
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?
Quadplex - Rental property with varied unit layouts, individual storage, covered parking, and on-site laundry.
Where is this quadplex located?
The property is located at 504 N 7th Ave Kelso, 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: 3,326‑square‑foot quadplex built in 1966; Three 2‑bedroom, 1‑bath units plus one 3‑bedroom unit; Dedicated storage units and covered parking for the three 2‑bedroom units
