Longview, WA 98632,1237 Commerce Ave
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Longview, WA 98632,1237 Commerce Ave
Longview, WA 98632,1237 Commerce Ave
Longview, WA 98632,1237 Commerce Ave
Longview, WA 98632,1237 Commerce Ave
Listed by Woodford CRE
Bought with Keller Williams-Premier Prtnrs

$1,160,000

Est. payment /mo

$1,100,000

5.5%
Est.Price: ?

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1237 Commerce Ave Longview, WA 98632

10,800 Sqft Lot

SOLD DATE : 12/20/2024

Key Details

Sold Price $1,160,000

Property Type Commercial

Sub Type Commercial Industrial

Listing Status Sold

Purchase Type For Sale

Subdivision Longview

MLS Listing ID 2293194

Sold Date 12/20/24

Style 61 - Comm Bldg Ovr 10K

Year Built 1926

Annual Tax Amount $5,440

Lot Size 10,800 Sqft

Property Description

Seize 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.

Location

State WA

County Cowlitz

Area 404 - Westside

Interior

Interior Features Hardwood, Laminate, Wall to Wall Carpet

Flooring Hardwood, Laminate, Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Brick, Cement/Concrete

Roof Type Torch Down

Building

Sewer Sewer Connected

Water Public

Others

Senior Community No

Acceptable Financing Cash Out, Conventional

Listing Terms Cash Out, Conventional

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Northwest MLS (NWMLS)

Jon Allen

Advisor | License ID: 133588

+1(206) 327-4385

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