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$10,250,000
2495226 MLS ⋅ ACTIVE Status
Cascade School Apartments is a 51-unit historic adaptive-reuse multifamily community originally built in 1922 and thoughtfully redeveloped through 2024–2025, blending timeless architecture with modern residential upgrades. Designed by Tacoma-based firm Hill, Mock & Griffin, the property features high ceilings, expansive windows, and durable construction that create a distinctive living environment rarely found in today’s market. Supported by federal historic tax credits and a property tax reduction, the asset offers an attractive basis, reduced near-term Cap Ex, and improved long-term cash flow stability. Located in the heart of downtown Chehalis along the I-5 corridor between Seattle and Portland, the property benefits from strong regional connectivity, walkable access to local amenities, and a supply-constrained market supported by ongoing downtown revitalization. With four-sided site access, dual entry points, future development potential on the 2.08-acre site, and possible expansion through additional unit development (buyer to verify), Cascade School Apartments presents a rare opportunity to acquire a stabilized, tax-advantaged historic asset with differentiated product and embedded upside.

101 SW 2nd St, Chehalis

Listing courtesy of Lee & Associates Commercial RE.

$3,999,000
2493118 MLS ⋅ ACTIVE Status
Excellent investment opportunity to purchase a 36-unit, single-story, garden-style apartment complex in Centralia, WA. All units consist of 1-bedroom units, which are both well-maintained and have strong historic rental history. Increases in several recently rented units indicate potential for additional rental income. On-site laundry to provide additional income (equipment is owned rather than leased and included in the sale). Property is centrally located in the Centralia-Chehalis area, with I-5 a short 5-minute drive away. Ample parking with both assigned spaces and street parking. All the roofs were replaced and windows upgraded to vinyl double-pane windows in 2015. Priced at $4.45M (or less than 124k/unit), which provides a cap rate of 6.82% based on the current actuals.

1100 S Pearl Street, Centralia

Listing courtesy of Windermere Northwest Living.

$3,159,000
2473278 MLS ⋅ ACTIVE Status
Stabilized 11 unit Class A townhome style multifamily portfolio consisting of three triplexes and one duplex, constructed in 2021 and offered together as a single asset. The property has a consistent operating history with strong rental demand, predictable cash flow, and is fully occupied with historically zero vacancy. Clean, verifiable financials.Units feature modern layouts and finishes including quartz countertops, stainless steel appliances, vinyl plank flooring, LED lighting throughout, ductless mini split heating and air conditioning, high speed internet, private garages, and private patios for each unit. Low near term capital requirements due to newer construction. 18 on site parking spaces and well maintained landscaping supported by an automated irrigation system.High quality, low maintenance multifamily portfolio with convenient I-5 corridor access, centrally located between Seattle and Portland, and close to schools, hospital, college, and everyday amenities. Detailed financials available upon execution of NDA.

1409 1412, 1413, 1414 Nora Lane, Centralia

Listing courtesy of RE/MAX Premier Group.

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.
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