500 Hillkress Street, Centralia, WA 98531
Local realty services provided by:Knipe Realty ERA Powered
Listed by: brian richardson
Office: kidder mathews
MLS#:2591597
Source:NWMLS
500 Hillkress Street,Centralia, WA 98531
$715,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Price summary
- Price:$715,000
About this home
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....
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Home facts
- Year built:1935
- Subdivision & Development:Edison
- Listing ID #:2591597
- Updated:October 28, 2026 at 12:02 PM
Heating and cooling
- Heating:Radiators
Structure and exterior
- Roof:Flat Roof
- Year built:1935
- Lot area:0.12 Acres
- Lot Features:Corner, Curbed Lot, Paved, Sidewalk
- Construction Materials:Brick Exterior Finish
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$715,000
- Tax amount:$5,703 (2026)
Features and amenities
- Amenities:Cable TV, Gas Available
Parking
- Total parking spaces:3
- Garage:Yes
- Garage spaces:1
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