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.