Quadplex with Shared
For Sale
$700,000
504 N 7th Avenue, 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 Market46
Property Features for 504 N 7th Avenue
General Information
Standard status
Active
Size
3,326 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Net Operating Income
$52,437
Taxes and HOA fees
Annual Taxes
$5,807
Amenities
Vinyl,Carpet
Yes
No
2
Electric
Curbs,Paved,Sidewalk
Cable TV,Fenced-Partially
4
50x100
0.1148
Wood
Poured Concrete
3326
Building Details
Building Size
3,326 SF
Year Built
1966
Stories
2
Listing Agency:
RE/MAX Eastside Brokers, Inc.
(503) 716-8644
Listed By:
Suzi Farrow
(971) 294-8879
Source:
Premierepropertygroup
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 7 at 11:59AM
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 RE/MAX Eastside Brokers, Inc.
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 Avenue 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
