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Tall Firs

1014, Scheuber Road, Centralia, WA 98531
$11,250,000

Description

Tall Firs (Status: Available)

1014, Scheuber Road, Centralia, WA  98531

The property was built in 1977 with one of the structures being completely rebuilt due to a fire in 2019. We will be coming out at $11.25M which puts the deal at 5% cap rate on current which equates to $175k/unit and $216/SqFt. The zoning and lot acreage supports additional development for anywhere between 8-14 units (buyer to verify). The unit mix consists of 37x 2B/1B, 26x 1B/1B, and 1x 3B/1B.Twenty-one of the units have been renovated within the last few years. Once stabilized, the property should be operating at about a 6% cap rate. The Centralia rental market is incredibly tight on vacancy and according to the property manager, they get multiple applications within the first few hours once units are advertised. Additional Value-Add Component:R:20 Zoning in Lewis County allo

Listing Details

Asset Class: Multi-Family
Year Built: 1977
Building Total Square Feet: 54138
Available Lease Space Square Feet:
Number of Floors: 2
Total Parking Spaces: 0
Local Zoning Information: R20

CBA

Listing Courtesy of: The Foundation Group

Disclaimer: The information contained in this listing has not been verified by Windermere Real Estate/Whatcom, Inc. and should be verified by the buyer.

  • Address: 1014, Scheuber Road, Centralia, WA 98531
  • City: Centralia
  • State/county: WA
  • Zip/Postal Code: 98531
  • Neighborhood: Centralia
  • Country: United States

Detail

Updated on August 6, 2022 at 12:15 pm

  • Property ID: 654468
  • Price: $11,250,000.00/For Sale
  • Property Size: 54138 Sq Ft
  • Property Type: Multi-Family
  • Property Status: Available

Contact info

Windermere Commercial
Windermere Commercial
360-676-5900

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