Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Kelso Fourplex: Investment Opportunity Title is generated by Realmo AI

    504 N 7TH Ave, Kelso, WA 98626

    View on Map
    Claim this Listing
    For Sale
    $720,000

    MULTI_FAMILY - Kelso, WA

    Property size:
    3,326 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $216/SF
    Added:
    Feb 12, 2026
    Days on Market:
    92
    Last Refresh:
    May 15 at 9:06 pm

    Property Features for 504 N 7TH Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bedroom 6, Bedroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 7, Bedroom 8, Bathroom 1, Bedroom 1, Bathroom 2
    Standard status
    Active
    APN
    20223
    Size
    3,326 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Description
    275 (KELSO OLD TOWN) -33 -4 26 -8N -2W
    Tax Annual Amount
    5471

    Building Details

    Year built
    1966
    Floors in Building
    2
    Number of units
    10
    Roof type
    Tar/Gravel, Flat

    We can help!

    Listing Contact
    David Thelin

    Listing agent David Thelin

    Listing office Windermere Northwest Living 209 W Main Street Suite 200, Vancouver, WA

    Listing date Feb 12, 2026

    MLS# 274357666 Listing URL

    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.

    HighLights

    • High 7.2% CAP rate indicates strong investment return.
    • Excellent cash flow from fully rented units.
    • All units are well‑maintained and in great shape.
    • Strong long‑term tenant history ensures rental stability.
    • Each unit includes 2 bedrooms, 1 bath, dedicated storage, and covered parking.
    • Coin‑operated laundry provides additional income.

    Overview

    This fourplex in Kelso, Washington, presents a fantastic investment opportunity with a 7.2 CAP rate and excellent cash flow. All four units are currently rented with a strong, long-term tenant history. Each well-maintained unit features 2 bedrooms and 1 bath, along with a dedicated storage unit and a covered parking space. The complex includes a large balcony. The laundry room has a new electrical panel and a dedicated hot water tank. The coin-operated laundry provides additional income. The property is situated on a 0.12-acre lot and the building size is 3326 square feet. The zoning is R2.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $425.4K
    NOI $38,283 @ 9.00% cap · cautious / downside scenario
    Moderate
    $546.9K
    NOI $38,283 @ 7.00% cap · market / base-case scenario
    Aggressive
    $765.7K
    NOI $38,283 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $57.9k $17.40
    − Vacancy −$3.2k −$0.96
    EGI $54.7k $16.44
    − OpEx −$16.4k −$4.93
    NOI $38.3k $11.51
    3,326 SF · lease $17.40/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $546.9K
    $478.5K – $638.1K (±1% cap)
    NOI $38,283 @ 7.0% cap · market cap 5.32%
    Second Best
    Apartment 5plus
    $502.2K
    $439.4K – $585.9K (±1% cap)
    NOI $35,153 @ 7.0% cap · market cap 4.88%
    Theoretical Best
    Office A
    $1.10M
    $958.9K – $1.28M (±1% cap)
    NOI $76,708 @ 7.0% cap · market cap 10.65%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kelso
    County
    Cowlitz
    State
    Washington
    Longitude
    -122.90495
    Latitude
    46.147297

    Nearby Similar for Sale

    • $379,000
      2,460 SF

      Charming Duplex with 6-Car Garage

      Well-maintained duplex with investment potential near amenities and new development.
      601 AYERS St, Kelso, WA 98626
      View Details
    • $369,000
      4,283 SF

      Updated Mixed-Use Warehouse in Kelso

      Unique mixed-use property with modern updates and commercial zoning.
      103 Allen St, Kelso, WA 98626
      View Details
    • $200,000

      Kelso Commercial Investment Opportunity

      C-1 zoned corner lot suitable for drive-through or retail.
      809 Westside Hwy, Kelso, WA 98626
      View Details
    • $510,000
      10,984 SF

      Warehouse/Office Package with Renovation Potential

      Three-building warehouse and office package with renovation potential for sale.
      1310 Elm Pl, Kelso, WA
      View Details
    • $498,000
      8,000 SF

      Downtown Kelso Two-Story Office Building

      8,000 SF office building in downtown Kelso for sale.
      314 Academy St, Kelso, WA, 98626-4101
      View Details
    • $2,400,000
      11,562 SF

      Income-Generating Office/Retail Building For Sale

      Two-story office/retail building with high visibility and income potential.
      717 Vandercook Way, Kelso, WA
      View Details
    • $2,500,000
      5,812 SF

      Retail Space For Sale

      Retail space available for purchase.
      1613 Westside Hwy, Kelso, WA 98626
      View Details
    • $498,000
      8,000 SF

      Downtown Kelso Building For Sale

      8,000 SF building in downtown Kelso with great visibility.
      314 Academy St, Kelso, WA 98626
      View Details
    • $5,000,000
      2,600 SF

      Established Grocery & Gas Station

      Established convenience store and gas station with expansion potential.
      1221 Rose Valley Road, Kelso, WA 98626
      View Details

    FAQs

    What type of property is this?
    Quadplex - Well-maintained Kelso fourplex with strong rental history and cash flow.
    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 $720,000.
    What are key features of this property?
    This property features: High 7.2% CAP rate indicates strong investment return.; Excellent cash flow from fully rented units.; All units are well‑maintained and in great shape.
    (360) 749-5667
    We can help!
    Listing Contact
    David Thelin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    504 N 7TH Ave, Kelso, WA 98626
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!