Modern 10-Unit Duplex
950 WALNUT St, Kelso, WA 98626
For Sale
$3,600,000
MultiFamily, Kelso, WA
Property Size16,200 SF
Price / SF$222.22
Days on Market101
Property Features for 950 WALNUT St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Elementary school
Middle school
High school
Directions
Subdivision
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
quartz countertops
stainless steel appliances
walk-in closets
walk-in showers
fenced backyards
heat pumps
garage
driveways
Building Details
Year built
Floors in Building
Number of units
Roof type
Buildings
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Daniel Belza · License #132688
(360) 953-9933
Added: Jul 31
Changed: Nov 8
Last Checked: Nov 8 at 3:06PM
MLS# 378224095
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.
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Investment Insights
Based on property information with market context.
This multifamily offering comprises five duplexes completed in 2023, with 10 fully occupied units and a combined property size of 16,200 square feet. Three duplexes provide 1,494 SF per unit, while the other two feature 1,809 SF per unit. Each residence has three bedrooms, 2.5 bathrooms, quartz countertops, stainless steel appliances, walk-in closets, and walk-in showers. Fully fenced backyards, garages, extended driveways, and heat-pump systems with mini-split heating and cooling add practical functionality for residents. The property is zoned Multi and has composition roofing.
Located at 950 WALNUT St in Kelso, the duplexes offer access to I-5, Longview, grocery stores, shopping, dining, schools, a nearby golf course, and everyday amenities. The units are currently leased, providing an operating multifamily asset with established occupancy and modern residential improvements.
Located at 950 WALNUT St in Kelso, the duplexes offer access to I-5, Longview, grocery stores, shopping, dining, schools, a nearby golf course, and everyday amenities. The units are currently leased, providing an operating multifamily asset with established occupancy and modern residential improvements.
Key Highlights
- Five 2023‑built duplexes totaling 10 fully occupied units
- Unit layouts include 1,494 SF and 1,809 SF plans
- Each unit offers 3 bedrooms and 2.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,464
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,729,280
$3.7M
Cap Rate 7%
$2,663,771
$2.7M
Cap Rate 9%
$2,071,822
$2.1M
Market Conditions
NOI Build-Up for 16,200 SF
Gross rent
$281.9K $17.40/SF
− Vacancy
−$15.5K −$0.96/SF
EGI
$266.4K $16.44/SF
− OpEx
−$79.9K −$4.93/SF
NOI
$186.5K $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 Rate 5%
$3,729,280
Cap Rate 7%
$2,663,771
Cap Rate 9%
$2,071,822
Alternative Uses
Best Use
Multifamily LT 5
$2.66M
$2.33M – $3.11M
NOI $186,464 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$2.45M
$2.14M – $2.85M
NOI $171,222 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$5.34M
$4.67M – $6.23M
NOI $373,621 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
10
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
168
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Newer construction includes fenced yards, garages, extended driveways, and heat-pump heating and cooling systems.
Where is this duplex located?
The property is located at 950 WALNUT St Kelso, WA.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Five 2023‑built duplexes totaling 10 fully occupied units; Unit layouts include 1,494 SF and 1,809 SF plans; Each unit offers 3 bedrooms and 2.5 bathrooms
