Listing provided courtesy of Cascade Hasson Sotheby's International Realty- MLS# 751724166
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Request Info3205 PACIFIC WAYLongview, WA 98632
Multi-Family · 4,208 Sq. ft. | 0.68 Acres$930,000
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3205 PACIFIC WAY Overview
- Time on Site:
- 5 days
- Visits:
- 7
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
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3205 PACIFIC WAY Facts & Features
- Type Multi-Family
- Sq. ft. 4,208
- Price/Sq.ft. $221
- Lot 0.68 Acres
Details
General
School Information
- Elementary School: Other
- Middle Or Junior School: Other
- High School: Other
Income/Expenses
- Gross Income: 74400.0
- Net Operating Income: 74400.0
- Operating Expense: 0
Building Information
- Year Built: 1999
Location/Region
- Country: US
- County Or Parish: Cowlitz
- MLS Area Major: 82 - Cowlitz County not in Woodland City Limits or Scho
- Subdivision Name: Pacific Way
Rent/Lease Information
- Rent Includes: None
Tax Information
- Tax Annual Amount: 6600.0
- Tax Year: 2026
General Information
- Listing Terms: Cash,Other
- Parcel Number: 048830101
- Property Condition: Approximately
- Property Type: Multi Family
- Zoning: res
Interior
Parking Information
- Garage Spaces: 0
Building Interior
- Building Area Total: 4208.0
General Information
- Basement: Crawl Space
- Cooling: Heat Pump
- Foundation Details: Concrete Perimeter
- Heating: Forced Air
- Stories: 1
Exterior
Parking Information
- Parking Features: Paved
- Parking Total: 8.0
Lot Information
- Lot Features: Level
- Lot Size Acres: 0.68
- Lot Size Square Feet: 29620.0
- Road Surface Type: Paved
- Water Source: Public Water
Building Exterior/Construction
- Roof: Composition
General Information
- Number Of Units Total: 2
- Sewer: Public Sewer
3205 PACIFIC WAY Neighborhood
Community
98632 (Longview) Demographics
40
Median Age
382
Population Density (per sq. mile)
28%
College Educated
$51,188
Estimated Median Income
12,254
Estimated Total Home Owners
8,588
Estimated Total Renters
59% / 41%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.3205 PACIFIC WAY Monthly Cost
3205 PACIFIC WAY Market Data
Based on the last 30 days in this zip code
$466,835
Average List Price
$259
Average Price per Square Foot
115
Properties Sold
76
Average Days on Market
342
Properties for Sale
3205 PACIFIC WAY History
| Date | Value | Agent |
|---|---|---|
| 6/25/2026Source: Regional MLS | June 25, 2026 |
|
| 6/25/2026Source: NWMLS | $930,000 -7.0% |
|
| 6/17/2026Source: NWMLS | June 17, 2026 |
|
| 6/20/2022Source: NWMLS | June 01, 2021 |