Listed by Kidder Mathews
$3,050,000
$100K PRICE DROP

522 N Iron St Centralia, WA 98531

Estimated payment $17,917/month

Total Views 1,589
-- Bed
-- Bath
23,641 Sq Ft
$129 Price per Sq Ft

Highlights

  • City View
  • No HOA
  • Baseboard Heating
  • Corner Lot
  • Thermal Windows
  • 4-minute walk to Edison Elementary

About This Home

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

Listing Agent

Brian Richardson

Kidder Mathews License #78371 Listed on: 06/23/2025

Co-Listing Agent

Dan Swanson

Kidder Mathews License #13533

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2396701

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,960

Year Built

  • Built in 1926

Lot Details

  • 0.68 Acre Lot
  • Gated Home
  • Partially Fenced Property
  • Corner Lot
  • Sprinkler System

Property Views

  • City
  • Territorial

Home Design

  • Poured Concrete
  • Composition Roof
  • Stucco

Interior Spaces

  • 23,641 Sq Ft Home
  • 3-Story Property
  • Thermal Windows

Flooring

  • Carpet
  • Laminate

Parking

  • 37 Parking Spaces
  • Open Parking

Utilities

  • Baseboard Heating
  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Centralia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 003459001000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,960

Year Built

Built in 1926

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1926
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 23641
  • EffectiveYearBuiltSource: Public Records
  • EstimatedCompletionDate: 1926-12-31
  • Special Features: None
  • Cumulative Days on Market: 67

Interior Features

  • Possible Use: Commercial, Multi-Family, Residential
  • Fireplace: No
  • Flooring: Laminate, Carpet
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Basement,Coin Op Laundry,Elevator,Fire Sprinklers,Thermal Windows

Exterior Features

  • Roof: Composition
  • View: City, Territorial
  • Lot Features: Corner Lot, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Concrete, Stucco
  • Exterior Features: Cement/Concrete, Stucco
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Spaces: 37
  • Carport Y N: No
  • Open Parking Spaces: 37
  • Open Parking: Yes
  • Total Parking Spaces: 37
  • ParkingUncoveredSpaces: 37

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: Partially Fenced, Security Gate
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • WaterSewerGarbage: 68091

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Centralia

Lot Info

  • Parcel Number: 003459001000
  • Lot Size Acres: 0.68
  • Lot Size Sq Ft: 29621
  • Zoning Description: Commercial,Multi-Family,Residential
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially,Gas Available,Gated Entry,High Speed Internet,Sprinkler System
  • MLSLotSizeSource: County
  • MLSSquareFootageSource: County
  • ZoningJurisdiction: City

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 7.37
  • LeasedItems: None
  • TotalMonthlyIncome: 4753

Multi Family

  • Gross Scheduled Income: 413812
  • Net Operating Income: 205652
  • Number Of Units Total: 4
  • Insurance Expense: 20414
  • Leasable Area: 15392
  • EnergySource: Electric
  • UnitsBelowGrade: false
  • VacancyRate: 8

Tax Info

  • Year: 2025
  • Tax Annual Amount: 15960

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/26/2025 08/26/25 Price Changed $3,050,000 -3.2% $129 / Sq Ft
06/23/2025 06/23/25 For Sale $3,150,000 +75.0% $133 / Sq Ft
04/16/2018 04/16/18 Sold $1,800,000 0.0% --
03/29/2018 03/29/18 Pending -- -- --
03/07/2018 03/07/18 For Sale $1,800,000 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2396701

Northwest Multiple Listing Service (NWMLS)
Washington Lewis County Centralia 98531

522 N Iron St, Centralia, WA

This home is located at 522 N Iron St, Centralia, WA 98531 and is currently priced at $3,050,000, approximately $129 per square foot. This property was built in 1926. 522 N Iron St is a home located in Lewis County with nearby schools including Centralia Middle School, Centralia High School, and Evergreen Academy of Arts & Sciences.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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Brian Richardson
Listing Agent
Brian Richardson
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Kidder Mathews
(564) 465-6079