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
Active
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
Est.:
Multi Family
Built in 1926
-- sqft lot
$-- Zestimate®
$129/sqft
$-- HOA
What's special
Favorable unit mixWell-maintained units
- 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#: 2396701

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
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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