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  • Listed by: 

    Brian Richardson,

    Kidder Mathews,

    Dan S. Swanson,

    Kidder Mathews

    Price cut: $100K (8/26)
    $3,050,000

    522 N Iron Street, Centralia, WA 98531

    --beds
    --baths
    23,641sqft
    : 
    Multi Family
    Built in 1926
    -- sqft lot
    $-- Zestimate®
    $129/sqft
    $-- HOA

    What's special

    Favorable unit mixWell-maintained units
    HILLVIEW TERRACE APTS. is a lucrative investment opportunity with a current cap rate of 6.53%. Featuring a mix of studios, 1-bed, and 2-bed units, this value-add property offers ample parking and full sprinkler coverage. Situated in a desirable location and walking distance to many shops, restaurants, and more, HILLVIEW TERRACE boasts the potential for increased revenue with just simple rent raises, and minor cosmetic improvements to an est. 8.52% cap rate. The well-maintained units and favorable unit mix is an excellent choice for investors seeking steady returns. Don't miss out on this chance to acquire a promising multi-family asset and capitalize on its current success while unlocking further value in this dynamic market
    69 days
    on Zillow
    |
    174
    |
    6
    |

    Zillow last checked: 7 hours ago

    Listing updated: August 26, 2025 at 12:28pm

    Listed by:

    Brian Richardson,

    Kidder Mathews,

    Dan S. Swanson,

    Kidder Mathews

    Source: NWMLS,MLS#: 2396701MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 522 N Iron Street.

    Next available tour time:Today at 2pm

    Facts & features

    Interior

    Heating
    • Baseboard, Electric
    Cooling
    • None
    Features
    • Flooring: Laminate, Carpet
    • Windows: Thermal Windows
    • Has fireplace: No
    Interior area
    • Total structure area: 23,641
    • Total interior livable area: 23,641 sqft

    Property

    Parking
    • Total spaces: 74
    • Parking features: Open
    • Carport spaces: 37
    • Uncovered spaces: 37
    Features
    • Has view: Yes
    • View description: City, Territorial
    Lot
    • Size: 0.68 Acres
    • Features: Corner Lot, Curbs, Paved, Sidewalk, Cable TV, Fenced-Partially, Gas Available, Gated Entry, High Speed Internet, Sprinkler System
    Details
    • Parcel number: 003459001000
    • Zoning description: Commercial,Multi-Family,Residential,Jurisdiction: City
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Cement/Concrete, Stucco
    • Foundation: Poured Concrete
    • Roof: Composition
    Condition
    • Year built: 1926
    • Major remodel year: 1987

    Utilities & green energy

    • Sewer: Sewer Connected
    • Water: Public
    Green energy
    • Energy efficient items: Thermal Windows

    Community & HOA

    Community
    • Subdivision: Centralia
    Location
    • Region: Centralia

    Financial & listing details

    • Price per square foot: $129/sqft
    • Tax assessed value: $1,765,100
    • Annual tax amount: $15,960
    • Date on market: 6/22/2025
    • Cumulative days on market: 70 days
    • Listing terms: Cash Out,Conventional,Rehab Loan
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