210 SW 13th St Unit 1-17, Chehalis, WA 98532

$1,999,000
11,054
SqFt

Listing courtesy of The Paragon Group.

List Price
$1,999,000
Status
ACTIVE
MLS#
1767735
Days on Market
5
Style
56 - 10+ Units
Building Condition
['Good']
Finished SqFt
11,054
Lot Size (sq ft)
22,651

Property Description

Adjacent to Penny Playground, The Penny Apartments features 16 units - 8 two bed/1 bath Garden Style and 8 2 bed/1.5 bath Townhome style units. The units are all turn-key, renovated to market standards, and professionally managed by local PM, TJ Guyer. Storage units on site for additional income potential, coin operated laundry and RUBS already in place providing the additional monthly income on top of base rents. Huge market demand for quality rental units and growing rental rates. Current rents $100/month below Pro Forma. Very low maintenance with modern electrical and plumbing. Well maintained and professionally operated. Zero delinquency with perfect collections history and ultra low vacancy sub 5%. Upside in rents and storage income.

Additional Information

List Date
2021-05-03 00:00:00
Community
Chehalis
Property Type
MULT
Units
16
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1975
Total Parking
24
Uncovered Parking
24
View
['See Remarks', 'Territorial']
Exterior
Brick, Wood
Roof
Cedar Shake, Flat, Torch Down
Site Features
Cable TV, Fenced-Partially, High Speed Internet
Lot Details
Corner Lot, Curbs, Paved Street, Sidewalk, Adjacent to Public Land
School District
Chehalis
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$15,934
Gross Scheduled Income
$191,208
Vacancy Rate
5
Gross Adjusted Income
$181,647
Annual Taxes
$15,884
Tax Year
2021
Insurance Expense
$319
W/S/G Expenses
$12,019
Total Expenses
$69,686
Net Operating Income
$111,961
Gross Rent Multiplier
10
Cap Rate
5

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
690
Unit 1 Rent
$895
Unit 2 Beds
2
Unit 2 Baths
1.50
Unit 2 Size
690
Unit 2 Rent
$925
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