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 $3,999,000 (or approx. $111K/unit) which provides an In-Place Cap Rate of 7.78% and a Proforma Cap Rate of 9.63%