500 Hillkress ST, Centralia, WA 98531
500 Hillkress ST, Centralia, WA 98531
500 Hillkress ST, Centralia, WA 98531
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Listed by:Kidder Mathews • Brian Richardson
$719,000
Est. payment /mo
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6 Beds
4 Baths
3,827 SqFt
First Look

500 Hillkress ST Centralia, WA 98531

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Adrian Chu

Adrian Chu

+1(206) 407-5452

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

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Adrian Chu

Adrian Chu

Founder & CEO

+1(206) 407-5452

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500 Hillkress ST