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Listed by Cascade Hasson Sotheby's International Realty
$930,000
Est. payment /mo
4,208 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,208 sqft
Price per Sqft $221
Subdivision Pacific Way
MLS Listing ID 751724166
Year Built 1999
Annual Tax Amount $6,600
Tax Year 2026
Lot Size 0.680 Acres
Property Description
Twin NNN Leased Homes at 8% 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. 8% 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 _82
Zoning res
Rooms
Basement Crawl Space
Interior
Heating Forced Air
Cooling Heat Pump
Exterior
Roof Type Composition
Garage No
Building
Lot Description Level
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Elementary Schools Other
Middle Schools Other
High Schools Other
Others
Acceptable Financing Cash, Other
Listing Terms Cash, Other
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Nearby School & Business
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