673 SW 20th St - Apartments FOR SALE


Chehalis, WA 98532
$1,875,000 USD
206-276-6811
673 SW 20th St, Chehalis, WA for Sale
$1,875,000 USD
Apartments - FOR SALE
1/19
null | 6.74% Cap Rate

673 SW 20th St
Chehalis, WA 98532


HIGHLIGHTS

  • Multiple investment strategies
  • Value-Add opportunity through increasing rents
  • In-demand single-family type rental units with stable tenant base
  • Walkable to several schools, restaurants, athletic facilities, and after school programs with quick access to Interstate 5

OVERVIEW

Madlen Court Rental Homes & Self-Storage blends highly desired single-family type rental homes with the additional benefit of self-storage. Featuring six single-family style rentals (all 3BR/2BA, ~1,400 SF avg) plus fourteen self-storage units. Tenants pay 100% of utilities; homes feature two-car garages, modern construction, and newer roofs—built for low-drama ownership. The tucked-away, off-street setting is walkable to Chehalis schools, Boys & Girls Club, parks, and athletic facilities, and is less than 10 minutes to I-5 and downtown. Chehalis sits almost exactly halfway between Seattle and Portland on the I-5 corridor, and the market’s recent positive economic activity include an announced Amazon operations facility projected at 500–1,000 jobs and the PSE takeover of the TransAlta power plant creating an estimated 700 jobs. There are two investment approaches an investor can take. Raise residential rents and push storage rents toward market. There is an estimated 87% increase feasible for storage based on rent comps. Alternatively, an investor can subdivide and sell the residential units individually for a profit and keep the storage for pure cash-flow.

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

20

PRICE/UNIT

$93,750

CAP RATE

6.74%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Madlen Court Rental Homes & Self-Storage

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2005

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.97 AC

LAND SF

42,253 SF

ZONING

multi family

APN/PARCEL ID

005604-183-045

ASK ABOUT THIS PROPERTY

Brian RichardsonKidder MathewsMore Info
206-276-6811

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Brian RichardsonKidder MathewsMore Info
206-276-6811

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