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(253) 209-4200
Real Estate Company
673 SW 20th St, Chehalis, WA 98532
- $1,711,925
- 11,720
- SqFt
Listing Broker: Kidder Mathews; Brian Richardson; 206-276-6811; brianr@kiddermathews.com Selling Office: NWMLS-NonOffice.
- Sold Price
- $1,711,925
- List Price
- $1,711,925
- Status
- SOLD
- MLS#
- 2582880
- Closing Date
- Sep 10, 2026
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 11,720
- Area Total SqFt
- 11720
- Annual Tax Ammount
- 15716
- Lot Size (sq ft)
- 42,253
- Sewer
- Sewer Connected
Property Description
Posted rent increases taking effect make this a true 8.06% cap on in-place income 7 expenses. Madlen Court Rental Homes & Self-Storage blends highly desired single-family type rental homes with the additional benefit of self-storage. Featuring 6 single-family style rentals (all 3BR/2BA, ~1,400 SF avg) plus 14 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 add additional units based on 24 du/acre density zoning for the property. Also, an investor subdivide and sell the residential units individually for a profit and keep the storage for pure cash-flow.
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Additional Information
- List Date
- 2026-09-10 00:00:00
- Community
- Chehalis
- Net Operating Income
- $148,250
- Gross Adjusted Income
- $189,856
- Gross Scheduled Income
- $199,848
- Total Monthly Income
- $16,654
- Insurance Expenses
- $7,200
- Gross Rent Multiplier
- 9.21
- Total Expenses
- $41,606
- Cap Rate
- 8.06
- Vacancy Rate
- 5
- Total Number of Units
- 20
- Unit Name
- 673
- Year Built
- 2004
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Fully, Fenced-Partially, High Speed Internet
- Electric Expenses
- 801
- Other Expenses
- 17889
- Energy Source
- Electric
- School District
- Chehalis
- Total Monthly Income
- $16,654
- Gross Scheduled Income
- $199,848
- Vacancy Rate
- 5
- Gross Adjusted Income
- $189,856
- Tax Year
- 2026
- Insurance Expense
- $7,200
- Total Expenses
- $41,606
- Net Operating Income
- $148,250
- Gross Rent Multiplier
- 9.21
- Cap Rate
- 8.06
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.