101 SW 2nd St, Chehalis, WA 98532
Courtesy of Lee & Associates Commercial RE
- $10,250,000
- 32,560
- SqFt
- List Price
- $10,250,000
- Status
- ACTIVE
- Days on Market
- 183
- Price Change
- ▲ $9,225,000 1773988281
- MLS#
- 2495226
- Subtype
- Residential Income
- Style
- 56 - 10+ Units
- Year Built
- 1922
- Living Area
- 32,560
- Lot Size
- 90,605
- Acres
- 2.08
- Subdivision
- Chehalis
- Neighborhood
- Chehalis
- MLS Area Major
- Chehalis
Property Description
Cascade School Apartments is a 51-unit historic adaptive-reuse multifamily community originally built in 1922 and thoughtfully redeveloped through 2024–2025, blending timeless architecture with modern residential upgrades. Designed by Tacoma-based firm Hill, Mock & Griffin, the property features high ceilings, expansive windows, and durable construction that create a distinctive living environment rarely found in today’s market. Supported by federal historic tax credits and a property tax reduction, the asset offers an attractive basis, reduced near-term Cap Ex, and improved long-term cash flow stability. Located in the heart of downtown Chehalis along the I-5 corridor between Seattle and Portland, the property benefits from strong regional connectivity, walkable access to local amenities, and a supply-constrained market supported by ongoing downtown revitalization. With four-sided site access, dual entry points, future development potential on the 2.08-acre site, and possible expansion through additional unit development (buyer to verify), Cascade School Apartments presents a rare opportunity to acquire a stabilized, tax-advantaged historic asset with differentiated product and embedded upside.
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Additional Information
- Amenities
- Fire Sprinklers
- Exterior Features
- Brick
- Property Description
- 56 - 10+ Units
- Heating
- Baseboard
- Air Conditioning
- None
- Roof
- Composition
- School District
- Chehalis
- Elementary School
- Buyer To Verify
- Middle School
- Chehalis Mid
- High School
- W F West High
- View
- City, Mountains, Partial, Territorial
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.