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Listed by:Cascade Hasson Sotheby's Int'l • Travis Newton
$ 999,900
Est. payment | /mo
12 Beds
14 Baths
4,208 SqFt
$ 999,900
Est. payment | /mo
12 Beds
14 Baths
4,208 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,208 sqft
Price per Sqft $237
Subdivision Pacific Way
MLS Listing ID 2541624
Style 52 - Duplex
Bedrooms 12
Year Built 1999
Annual Tax Amount $3,300
Lot Size 0.680 Acres
Property Sub-Type Multi Family
Property Description
Twin NNN Leased Care Homes at 7.44% CAP rate! 3205 & 3215 Pacific Way, Longview, WA. Rare package offering two identical, purpose-built 6-bedroom adult family homes, each independently licensed and operated since construction by separate businesses. Both on NNN leases at $3,100/month each ($74,400 combined annual NOI) — approx. 7.44% cap rate. Each lease has 4 years remaining plus a 5-year renewal option, offering up to 9 years of contracted income visibility. Tenants cover taxes, insurance, and maintenance, leaving ownership largely passive. Two separate operators reduce tenant-concentration risk versus a single-tenant net lease. Purpose-built construction means no costly retrofitting for licensing or accessibility. Both homes sit on a large third of an acre. Both homes were designed from the ground up for residential care use. New roofs on both buildings (2019) minimize near-term capital needs. Located in Longview, WA, along the I-5 corridor between Portland and Seattle, serving a stable regional demand base for licensed residential care. Sold as a package only. Ideal for 1031 exchange buyers or passive investors seeking yield in net-leased healthcare real estate without operational risk. Owner/Agent
Location
State WA
County Cowlitz
Area 409 - Pacific Way
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Cement/Concrete
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Longview
Others
Senior Community No
Acceptable Financing Cash, Conventional, See Remarks
Listing Terms Cash, Conventional, See Remarks
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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