Bought with ZNonMember-Office-MLS
$3,200,000
$3,000,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
1510 Lewis ST Centralia, WA 98531
15,296 SqFt
Key Details
Sold Price $3,200,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 15,296 sqft
Price per Sqft $209
Subdivision Centralia
MLS Listing ID 1894179
Sold Date 06/28/22
Style 56 - 10+ Units
Year Built 1970
Annual Tax Amount $38,066
Lot Size 0.870 Acres
Property Sub-Type Multi-Family
Property Description
Situated on Plummer Lake, the "Lakeview" apartment community is a one of-a-kind opportunity to own a quality renovated asset in one of the fastest growing markets in the Puget Sound. Offering an in-place 5% CAP Rate, Lakeview provides an incoming investor the ability to complete a value-add project while simultaneously generating cash-flow, a rare find in the PNW region, with potential to reach a 7% or higher cap rate once market operations are achieved. Tenants have access to spacious grounds and ample parking. Historically low vacancy rate with quality long-term tenants. Convenient location, easy access to I-5 and main arterials.
Location
State WA
County Lewis
Area 426 - Centralia
Interior
Fireplace false
Exterior
Exterior Feature Wood
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Centralia
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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