503 Monroe St, South Bend, WA 98586
This exceptional 0.84-acre commercial lot in South Bend, Washington, presents a unique multifamily development opportunity. Zoned for Downtown and Commercial District use, the property is approved for the construction of a 15-unit apartment building. The lot boasts a desirable location, just one block from Highway 101, offering convenient access to major transportation routes. Several units will enjoy river views. Public utilities are readily available at the street. The property is situated within the city limits of South Bend, a town with a population exceeding 1,700, and is within a 3-mile radius of essential services including Willipa Harbor Public Hospital, restaurants, banks, healthcare facilities, motels, shopping centers, grocery stores, and hardware stores. The larger Pacific County boasts a population of over 24,000 (2021 census data). For those seeking larger city amenities, Interstate 5 (Chehalis) is approximately 40 miles east, Vancouver, WA is 120 miles away, and Long Beach is a 40-minute drive. Adding to its appeal, the property is within walking distance of a new school, maintaining a charming small-town atmosphere. The asking price for this prime development site is $299,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.