522 N Iron St - Apartments FOR SALE


Centralia, WA 98531
$3,150,000 USD
425-444-6501
522 N Iron St, Centralia, WA for Sale
$3,150,000 USD
Apartments - FOR SALE
1/26
null | 6.53% Cap Rate

522 N Iron St
Centralia, WA 98531


HIGHLIGHTS

  • Market rents have been proven achievable by owner through recent new leases
  • Current rents are 21.4% below market
  • Pro Forma Cap Rate of 8.52%
  • Walking distance to downtown Centralia with shopping, restaurants, and more
  • Off-street parking for each unit
  • Modern elevator, fire sprinkler system, on-site laundry, secured entry, newer roof (2018), vinyl double-pane windows

OVERVIEW

HILLVIEW TERRACE APARTMENTS at 522 N IRON ST, CENTRALIA, WA presents a lucrative investment opportunity with a current cap rate of 6.53%. Featuring a mix of studios, one-bedroom, and two-bedroom units, this value-add property offers ample parking and full sprinkler coverage. Situated in a desirable location and walking distance to many shops, restaurants, and more, HILLVIEW TERRACE APARTMENTS boasts the potential for increased revenue with just simple rent raises, and minor cosmetic improvements to an estimated 8.52% cap rate. The property's well-maintained units and favorable unit mix make it an attractive choice for investors seeking steady returns. Don't miss out on this chance to acquire a promising multi-family asset in Centralia. Explore the potential of HILLVIEW TERRACE APARTMENTS and capitalize on its current success while unlocking further value in this dynamic market.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$133 USD /SF

# OF UNITS

37

PRICE/UNIT

$85,135

CAP RATE

6.53%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hillview Terrace

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,706 SF

ZONING

R20

APN/PARCEL ID

003459-001-000

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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