$715,000
 $3,838 est/mo Sourced by Back At You

500 Hillkress Street,Centralia, WA 98531

Centralia, WA 98531

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Description

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.

Details

MLS #2591597
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1935
Days On Site23
Listing Provided ByKidder Mathews | Brian Richardson

Features

SQ Feet3,827
Garage1
Story(s)2
Units4
Acreage0.12

Taxes

Property5703

Area Information

StateWA
CountyLewis
CityCentralia
Zip Code98531
Area426 Centralia
Community NameEdison
Listing VS Median (in Edison)
Price:
$715,000
low | high
Med:
$495,000
80.769230769231% of Average
sqft:
3,827
low | high
Med:
1,996
97.844264436896% of Average
$ / sqft:
$187
low | high
Med:
$251
15.58284106319% of Average
On site:
23
low | high
Med:
129
17.829457364341% of Average
Sourced by Back At You

Market Activity 98531

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Learn More About This Property

StateWA
CountyLewis
CityCentralia
Zip Code98531
Area426 Centralia
Community NameEdison
Listing VS Median (in Edison)
Price:
$715,000
low | high
Med:
$495,000
80.769230769231% of Average
sqft:
3,827
low | high
Med:
1,996
97.844264436896% of Average
$ / sqft:
$187
low | high
Med:
$251
15.58284106319% of Average
On site:
23
low | high
Med:
129
17.829457364341% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $536K - $893K
sqft: 2,500 - 4,500
Nearby Listings Property ImageNearby Listings Details
417 W Hanson Street Property Photo 1
$549,500
417 W Hanson Street
Centralia, WA 98531
Listing Updated: October 29, 2026 at 2:20:27 PM PDT