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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
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