1237 Commerce Ave, Longview, WA 98632
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- MLS#: NWM2293194 ( Commercial Sale )
- Street Address: 1237 Commerce Ave
- Viewed: 2
- Price: $1,100,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1926
- Bldg sqft: 0
- Additional Information
- Geolocation: 46.1364 / -122.935
- County: COWLITZ
- City: Longview
- Zipcode: 98632
- Subdivision: Longview
- Provided by: Woodford CRE
- Contact: Chris Roewe
- 360-501-5500
- DMCA Notice
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DescriptionSeize this rare chance to acquire a prime investment property with substantial upside potential, situated in the heart of downtown Longview. This distinguished 16,200 square foot mixed use building combines historic charm with significant growth prospects, featuring four commercial suites and 16 residential apartments across two levels. The property presents considerable potential for rent increases following necessary updates. Currently offered at a 5.4% cap rate, this investment boasts a conservative proforma projecting a 10%+ cap rate, making it an outstanding addition to any investment portfolio. Capitalize on the opportunity to enhance cash flow through strategic improvements and efforts.
Property Location and Similar Properties
Features
Home Owners Association Fee
- 0.00
Carport Spaces
- 0.00
Close Date
- 0000-00-00
Country
- US
Covered Spaces
- 0.00
Exterior Features
- Brick
- Cement/Concrete
Flooring
- Hardwood
- Laminate
- Vinyl Plank
- Carpet
Garage Spaces
- 0.00
Heating
- Wall Unit(s)
Insurance Expense
- 12201.00
Interior Features
- Hardwood
- Laminate
- Wall to Wall Carpet
Living Area
- 0.00
Area Major
- 404 - Westside
Net Operating Income
- 59826.00
Open Parking Spaces
- 0.00
Other Expense
- 5000.00
Parcel Number
- 00540
Possession
- Closing
- Tenant's Rights
Possible Use
- Commercial
Property Condition
- Average
Property Type
- Commercial Sale
Roof
- Torch Down
Sewer
- Sewer Connected
Tax Year
- 2021
Water Source
- Public
Year Built
- 1926