500 Hillkress Street, Centralia, WA 98531
Local realty services provided by:Better Homes and Gardens Real Estate Gary Mann Realty
Listed by: brian richardson
Office: kidder mathews
MLS#:2589266
Source:NWMLS
500 Hillkress Street,Centralia, WA 98531
$719,000
- - Beds
- - Baths
- 3,827 sq. ft.
- Multi-family
- First Look
Price summary
- Price:$719,000
- Price per sq. ft.:$187.88
About this home
FULL MARKETING PACKAGE IN SUPPLEMENTS. 500 Hillkress combines renovated apartments, a convenient Centralia location, and several avenues for income growth. The two-story building features brick veneer, four approximately 750-square-foot apartments, a basement, shared on-site laundry, off-street parking, and a separately rented garage. Improvements include a comprehensive 2016 remodel with updated kitchens and bathrooms, full electrical rewiring and new panels, approximately 98% new plumbing, a replacement membrane roof, thermal double-pane windows, and two gas water heaters installed in 2020. Residents benefit from a very walkable setting with access to downtown shops and dining, Centralia College, parks, and the Amtrak station, while nearby I-5 connects the property to regional employment centers. Healthcare, education, manufacturing, and distribution employers provide a broad potential renter base. An investor will benefit from opportunities from lease-timed rent increases, utility recovery, and additional use of basement or garage space, subject to city approval. Estimated to return 10.5% cash-on-cash under the Year 1 pro forma, giving investors a compelling reason to explore the financial analysis and income-growth strategy....
Contact an agent
Home facts
- Year built:1935
- Subdivision & Development:Edison
- Listing ID #:2589266
- Updated:October 05, 2026 at 11:29 AM
Rooms and interior
- Living area:3,827 sq. ft.
Heating and cooling
- Heating:Radiant
Structure and exterior
- Roof:Flat Roof
- Year built:1935
- Building area:3,827 sq. ft.
- Lot area:0.12 Acres
- Construction Materials:Brick Exterior Finish
Utilities
- Sewer:Sewer Connected
Finances and disclosures
- Price:$719,000
- Price per sq. ft.:$187.88
- Tax amount:$5,600 (2026)
Features and amenities
- Amenities:Cable TV, Gas Available, High Speed Internet
Parking
- Total parking spaces:2
- Garage:Yes
- Garage spaces:1
New listings near 500 Hillkress Street
- New
$625,000Active2 beds 3 baths3,640 sq. ft.137 Northridge Drive, Centralia, WA 98531
MLS# 2590604Listed by: WINDERMERE CENTRALIA - Open Mon, 10am to 6pmNew
$399,990Active3 beds 3 baths2,015 sq. ft.1367 Salzer Creek Drive, Centralia, WA 98531
MLS# 2589972Listed by: BMC REALTY ADVISORS, INC - Open Mon, 10am to 6pmNew
$374,990Active3 beds 3 baths1,586 sq. ft.1437 Salzer Creek Loop, Centralia, WA 98531
MLS# 2589985Listed by: BMC REALTY ADVISORS, INC - New
$429,000Active2 beds 2 baths1,794 sq. ft.316 Downing Road, Centralia, WA 98531
MLS# 2590141Listed by: CENTURY 21 LUND, REALTORS - New
$420,000Active5 beds 2 baths1,836 sq. ft.1904 Trilium Lane, Centralia, WA 98531
MLS# 2588258Listed by: JOHN L. SCOTT, INC - New
$100,000Active1 beds 1 baths1,182 sq. ft.1010 Grand, Centralia, WA 98531
MLS# 2586131Listed by: WINDERMERE CENTRALIA - Open Mon, 10am to 6pmNew
$424,990Active3 beds 3 baths2,015 sq. ft.1406 Salzer Creek Drive, Centralia, WA 98531
MLS# 2589960Listed by: BMC REALTY ADVISORS, INC - New
$295,000Active3 beds 2 baths1,296 sq. ft.1313 W Main Street, Centralia, WA 98531
MLS# 2589101Listed by: KELLER WILLIAMS SOUTH SOUND - New
$750,000Active4 beds 4 baths5,671 sq. ft.405 Lakeshore Drive, Centralia, WA 98531
MLS# 2589288Listed by: COMPASS