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About the Listing 128 - 42995
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.
Listing Highlights for 500 Hillkress St
Status
Active
Days on Site
8
Property Type
Multi-Family
MLS ®
2591597
Year Built
1935
Total Square Footage
3,000
Lot/Acreage
0.12
Interior Details
- Bedrooms: 6
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Radiator
- Fireplaces: 0
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Corner Lot,Curbs,Paved,Sidewalk,Cable TV,Gas Available
- Garage Capacity: 1 car
- Parking Spaces: 3
- Roof: Flat
- Others: Brick
- Sewer: Sewer Connected
- Parking Features: Covered,1 Garage
Financial Details
- Tax Amount: $5,703
- Taxes w/Assessments: N/A
- Tax/Property ID: 001984000000
- Tax Year: 2026
Payment Calculator
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Listing Location
Questions About..
500 Hillkress St Centralia, WA 98531
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