1100-1105 S Pearl St - Apartments FOR SALE


Centralia, WA 98531
$4,250,000 USD
360-560-3165
1100-1105 S Pearl St, Centralia, WA for Sale
$4,250,000 USD
Apartments - FOR SALE
1/53
null | 6.65% Cap Rate

1100-1105 S Pearl St
Centralia, WA 98531


HIGHLIGHTS

  • All one level strong rental income and good rental history
  • Ideal for low-maintenance management
  • Broad tenant appeal

OVERVIEW

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. Additional income achievable with current rents averaging $1,000/month/unit, while recent new tenants have averaged $1,200/month/unit. Onsite laundry to provide additional income (equipment is owned rather than leased and included in sale). Property is centrally located in the Centralia-Chehalis area with I-5 a short 5-minute drive away. Ample parking with both onsite, assigned spaces and street parking. All the roofs were replaced and windows upgraded to vinyl double paned windows in 2015. Priced at $4.35M (or less than $120K/unit) which provides a cap rate of 6.5% based on the current actuals. (8.9% Cap Rate based on proforma) Priced at $4.45M (or less than $124K/unit) which provides a cap rate of 6.82% based on the current actuals.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$200 USD /SF

# OF UNITS

36

PRICE/UNIT

$118,056

CAP RATE

6.65%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Southgate Terrace Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

Multifamily (R-15)

APN/PARCEL ID

001934-014-000

ASK ABOUT THIS PROPERTY

Paul YoungWindermere Northwest LivingMore Info
360-560-3165

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Paul YoungWindermere Northwest LivingMore Info
360-560-3165

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.