101 SW 2nd St, Chehalis, WA 98532
- $10,250,000
- 32,560
- SqFt
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $10,250,000
- Status
- ACTIVE
- MLS#
- 2495226
- Price Change
- ▲ $9,225,000 1773988281
- Days on Market
- 136
- Style
- 56 - 10+ Units
- Building Condition
- Updated/Remodeled
- Finished SqFt
- 32,560
- Area Total SqFt
- 32560
- Annual Tax Ammount
- 14724
- Lot Size (sq ft)
- 90,605
- Sewer
- Available
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
- List Date
- 2026-03-12 18:33:11
- Community
- Chehalis
- Net Operating Income
- $591,059
- Gross Adjusted Income
- $790,077
- Gross Scheduled Income
- $756,900
- Total Monthly Income
- $65,840
- Insurance Expenses
- $25,493
- Water/Sewer/Garbage Expenses
- $42,647
- Gross Rent Multiplier
- 13.54
- Total Expenses
- $199,018
- Cap Rate
- 5.77
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 101
- Potential Terms
- Cash, Conventional
- Year Built
- 1922
- View
- City, Mountains, Partial, Territorial
- Roof
- Composition
- Site Features
- High Speed Internet
- Other Expenses
- 116154
- Energy Source
- Electric
- School District
- Chehalis
- Elementary School
- Buyer To Verify
- Middle School
- Chehalis Mid
- High School
- W F West High
- Total Monthly Income
- $65,840
- Gross Scheduled Income
- $756,900
- Vacancy Rate
- 5
- Gross Adjusted Income
- $790,077
- Tax Year
- 2026
- Insurance Expense
- $25,493
- W/S/G Expenses
- $42,647
- Total Expenses
- $199,018
- Net Operating Income
- $591,059
- Gross Rent Multiplier
- 13.54
- Cap Rate
- 5.77
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.