WA > Richland > John Dam Plat
Richland, WA 99354,1603 Mahan Ave
Richland, WA 99354,1603 Mahan Ave
Richland, WA 99354,1603 Mahan Ave
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Aurora Shively

Aurora Shively

+1(509) 578-8480
$1,540,000
Est. payment /mo
11 Beds
5,387 SqFt
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UPDATED:

01/14/2025 10:00 PM

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 5,387 sqft

Price per Sqft $285

Subdivision John Dam Plat

MLS Listing ID 280420

Bedrooms 11

Year Built 1948

Tax Year 2023

Property Sub-Type Other

Property Description

MLS# 280420 Opportunity to acquire the Richland Residential Portfolio (RRP), a collection of five fully leased residential properties located in Richland, Washington. These properties present an exceptional investment for those looking to secure a stabilized income-generating asset with significant potential for growth. With a proven track record of strong occupancy, long-term tenants, and under-valued rental rates, the portfolio offers both immediate cash flow and future upside. Proforma Rents are at $99k for the Portfolio with a Net Operating Income of $82k. 5.35% CAP rate, $285/SF or $308k per door. All 5 properties are within 1 mile of each other and takes 10 minutes to drive the portfolio making it easy to Manage. Must purchase entire portfolio, will not break up individually. Call LA for more information and Do Not Disturb tenants. A. 1603 Mahan AveB. 1209 Winslow AveC. 704 Birch AveD. 2305 Concord StreetE. 312 Adams

Location

State WA

County Benton

Area Benton

Zoning Residential

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Listed by StrickerCRE

A FEW WORDS FROM PAST CLIENTS

My wife and I had a great experience in the home buying process with Aurora Shively and her team. The quality of our direct contact agent in the field Natalie Reed was very impressive. Kindness, honesty, thoroughness, courage, and tenacity are just a few adjectives I would use to define her performance. I would highly recommend using the Aurora realty services international group to assist anyone in the market of finding the right home for you. Especially if time to closing is your priority.

orionvrod

Aurora is incredibly down-to-earth and we thoroughly enjoyed working with her. She is prompt, professional and incredibly knowledgeable. She's on top of it!

saramfritz

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