Property profile

503 Monroe St South Bend, WA 98586

OFF-MARKET
Land
0.84 ac lot
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Land
Lot 0.84 ac (36,590 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

503 Monroe St South Bend, WA 98586
South Bend metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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