Hillview Terrace Apartments

522 N Iron Centralia WA 98531

Listing #: 595260 | Status: Sold | Closing Date: 04/16/2018 | Last Modified: 4/16/2018 |

For Sale

522 N Iron Centralia WA 98531

Agent Information
Showing Instructions
Call Listing AgentNo
Use DiscretionNo

Patrick Suarez

(206) 325-9300
pat@urbanseattle.com

Urban Commercial Partners, LLC

(206) 325-9333

Listing Information
Price
Listing Price$ 1,800,000
$/SF$ 76.14
$/Unit$ 48,648.65
Listing StatusSold
Days On Market39
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 1,800,000
$/SF$ 76.14
Closing Date04/16/2018
Selling BrokerPatrick Suarez
Investment Information
Investment PropYes
1031 ExchangeYes
Gross Income$ 300,001
Vacancy Factor %4.00%
Operating Expenses$ 161,458
Net Operating Income$ 126,542
CAP Rate7.03 %
GRM6.86
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 10,000
+Insurance$ 6,830
+Water/Sewer$ 54,975
+Prof. Mgr$ 11,506
+Res. Mgr$ 18,498
+Maintenance$ 51,611
+Other Expenses$ 8,038
=Total Exp.$ 161,458
Annual Operating Information
Gross Sch Rents$ 262,368.00
Vacancy %4.00%
+Laundry Income$ 6,000
+Other Income$ 31,633
=Effective Gross$ 300,001
-Total Expenses$ 161,458
=NOI$ 138,543
Financial Summary
CAP Rate7.03 %
GRM$ 6.86
$/Unit$ 48,648.65
Expense/Unit$ 4,363.73
Asset Class Information
# Units Beds/Baths Avg SqFT
15 Studio 325
16 1Bed/1Bath 437
4 2Bed/1Bath 682
2 3Bed/2Bath 655
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units37
Total Building Sq/ft23,641
Net Rentable Area23,641
Lot Sq/ft29,621
Acres0.68
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyLewis
Market AreaCentralia
Tax ID #003459001000
Construction
Year Built1926
Construction TypeConcrete

Public Comments: We are pleased to present the Hillview Terrace Apartments, ideally located close to Downtown Centralia. 37 Residential Units and on-site leasing office. New Roof in 2017, updated dual paned windows and recently sealed parking lot. Professionally managed and maintained.

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