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Listed by:Kidder Mathews • Brian Richardson
$ 719,000
Est. payment /mo
First Look
500 Hillkress ST Centralia, WA 98531
6 Beds
4 Baths
3,827 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status First Look
Purchase Type For Sale
Square Footage 3,827 sqft
Price per Sqft $187
Subdivision Edison
MLS Listing ID 2589266
Style 54 - 4-Plex
Bedrooms 6
Year Built 1935
Annual Tax Amount $5,600
Lot Size 5,227 Sqft
Property Sub-Type Multi Family
Property Description
FULL MARKETING PACKAGE IN SUPPLEMENTS. 500 Hillkress combines renovated apartments, a convenient Centralia location, and several avenues for income growth. The two-story building features brick veneer, four approximately 750-square-foot apartments, a basement, shared on-site laundry, off-street parking, and a separately rented garage. Improvements include a comprehensive 2016 remodel with updated kitchens and bathrooms, full electrical rewiring and new panels, approximately 98% new plumbing, a replacement membrane roof, thermal double-pane windows, and two gas water heaters installed in 2020. Residents benefit from a very walkable setting with access to downtown shops and dining, Centralia College, parks, and the Amtrak station, while nearby I-5 connects the property to regional employment centers. Healthcare, education, manufacturing, and distribution employers provide a broad potential renter base. An investor will benefit from opportunities from lease-timed rent increases, utility recovery, and additional use of basement or garage space, subject to city approval. Estimated to return 10.5% cash-on-cash under the Year 1 pro forma, giving investors a compelling reason to explore the financial analysis and income-growth strategy.
Location
State WA
County Lewis
Area 426 - Centralia
Interior
Fireplace false
Exterior
Exterior Feature Brick
Garage Spaces 1.0
Amenities Available Cable TV, Gas Available, High Speed Internet
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Centralia
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry, VA Loan
Listing Terms Cash, Conventional, Owner Will Carry, VA Loan
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