673 SW 20th St, Chehalis, WA 98532
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673 SW 20th St, Chehalis, WA 98532
673 SW 20th St, Chehalis, WA 98532
673 SW 20th St, Chehalis, WA 98532
673 SW 20th St, Chehalis, WA 98532
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ONE Real Estate

ONE Real Estate

+1(360) 201-0908
Listed by:Kidder Mathews • Brian Richardson
$ 1,840,000
Est. payment /mo
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673 SW 20th St Chehalis, WA 98532

18 Beds

16 Baths

11,720 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,720 sqft

Price per Sqft $156

Subdivision Chehalis

MLS Listing ID 2467767

Style 55 - 5-9 Units

Bedrooms 18

Year Built 2004

Annual Tax Amount $15,716

Lot Size 0.970 Acres

Property Sub-Type Multi Family

Property Description

Posted rent increases taking effect make this a true 8.06% cap on in-place income 7 expenses. Madlen Court Rental Homes & Self-Storage blends highly desired single-family type rental homes with the additional benefit of self-storage. Featuring 6 single-family style rentals (all 3BR/2BA, ~1,400 SF avg) plus 14 self-storage units. Tenants pay 100% of utilities; homes feature two-car garages, modern construction, and newer roofs—built for low-drama ownership. The tucked-away, off-street setting is walkable to Chehalis schools, Boys & Girls Club, parks, and athletic facilities, and is less than 10 minutes to I-5 and downtown. Chehalis sits almost exactly halfway between Seattle and Portland on the I-5 corridor, and the market's recent positive economic activity include an announced Amazon operations facility projected at 500–1,000 jobs and the PSE takeover of the TransAlta power plant creating an estimated 700 jobs. There are two investment approaches an investor can take. Raise residential rents and push storage rents toward market. There is an estimated 87% increase feasible for storage based on rent comps. Alternatively, an investor can add additional units based on 24 du/acre density zoning for the property. Also, an investor subdivide and sell the residential units individually for a profit and keep the storage for pure cash-flow.

Location

State WA

County Lewis

Area 430 - Chehalis

Interior

Fireplace false

Exterior

Exterior Feature Cement Planked, Wood Products

Garage Spaces 12.0

Amenities Available Cable TV, Fenced-Fully, Fenced-Partially, High Speed Internet

View Y/N No

Roof Type Composition

Building

Lot Description Dead End Street, Paved, Secluded

Sewer Sewer Connected

New Construction No

Schools

School District Chehalis

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby School & Business

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Broker

+1(360) 201-0908

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