Excellent investment opportunity to purchase a 36-unit, single-story, garden-style apartment complex in Centralia, WA. All units consist of 1-bedroom units, which are both well-maintained and have strong historic rental history. Increases in several recently rented units indicate potential for additional rental income. On-site laundry to provide additional income (equipment is owned rather than leased and included in the sale). Property is centrally located in the Centralia-Chehalis area, with I-5 a short 5-minute drive away. Ample parking with both assigned spaces and street parking. All the roofs were replaced and windows upgraded to vinyl double-pane windows in 2015. Priced at $4.45M (or less than 124k/unit), which provides a cap rate of 6.82% based on the current actuals.
| MLS # | 2493118 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 162 |
| Listing Provided By | Windermere Northwest Living | Paul Young |
| SQ Feet | 21,216 |
|---|---|
| Story(s) | 1 |
| Acreage | 1.24 |
| Golf Course | Yes |
| Property | 23058 |
|---|
| State | WA |
|---|---|
| County | Lewis |
| City | Centralia |
| Zip Code | 98531 |
| Area | 426 Centralia |
| Community Name | Centralia |
| Listing VS Median (in Centralia) | |
Price: $3,999,000 low | high Med: $414,900 sqft: 21,216 low | high Med: 2,344 $ / sqft: $188 low | high Med: $177 On site: 162 low | high Med: 25 | |
| State | WA |
|---|---|
| County | Lewis |
| City | Centralia |
| Zip Code | 98531 |
| Area | 426 Centralia |
| Community Name | Centralia |
| Listing VS Median (in Centralia) | |
Price: $3,999,000 low | high Med: $414,900 sqft: 21,216 low | high Med: 2,344 $ / sqft: $188 low | high Med: $177 On site: 162 low | high Med: 25 | |