Bremerton Area Real Estate Search

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117 W Magnolia Street
Centralia, Washington WA 98531
$10,500,000 Price
Active Status
55,100 SqFt
0.330 Acres
1999997 Listing ID
Located in Historic Downtown Centralia between Portland and Seattle The Lewis and Clark Hotel is Meticulously maintained with 54 units, 55 and over & 5 yr HUD contract(2027) boasts a very stable tenant population. Original terrazzo flooring welcomes you into the lobby, with original charm that will take you back in time when this building was once a thriving hotel. 7 commercial units, along with 4700 sq ft event space with stunning original hardwood floor, kitchen, and additional 2300 sq ft bar with Immediate upside potential in commercial space and event center. 10,000 sq ft basement w/18 parking spaces also useable storage. This remarkable location is within walking distance to a park, library, shopping, bus lines, and entertainment.
Schedule Showing Virtual Tour
Status Active
County Lewis
Subdivision Centralia
Year Built 1926
Property Type Residential Income
Residential Income
Property Sub Type Multi-Family

Primary Features

County: Lewis
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Centralia
Year Built: 1926

Interior

Building Area Units: Square Feet
Flooring: Ceramic Tile, Laminate, See Remarks, Vinyl, Carpet
Furnished: Unfurnished
Heating Cooling Type: Central A/C, Heat Pump, Wall
Interior Features: Central A/C, Heat Pump, Ceramic Tile, Laminate, Wall to Wall Carpet
Living Area Units: Square Feet
Stories Total: 8

External

Covered Spaces: 18
Elevation Units: Feet
Exterior Features: Cement/Concrete
Foundation Details: Poured Concrete
Lot Features: Alley, Corner Lot, Curbs, Paved, Sidewalk
Lot Size Square Feet: 14375
Lot Size Units: Square Feet
MLS Lot Size Source: Public Record
Number Of Units Total: 4
Parking Total: 18
Roof: Flat, Torch Down
Sewer: Sewer Connected
Sewer Company: City of Centralia
Structure Type: Multi Family
Style Code: 56 - 10+ Units
Units Below Grade: false
Units In Building Total: 54
Utilities: High Speed Internet, Sewer Connected, Electricity Available, Natural Gas Connected
Water Company: City of Centralia
Water Sewer Garbage: 34090
Water Source: Public

Location

Building Area Total: 55100
Country: US
Elementary School: Buyer To Verify
High School: Buyer To Verify
High School District: Centralia
Middle Or Junior School: Buyer To Verify
MLS Area Major: 426 - Centralia
Waterfront: no
Zoning Class: Commercial,Multi-Family,Retail,See Remarks
Zoning Jurisdiction: City

Additional

Amenities: Basement,Clubhouse,Elevator,Fire Sprinklers,See Remarks,Storage
First Right Of Refusal: no
Mls Status: Active
Offers: Seller intends to review offers upon receipt
Possible Use: Commercial, Multi-Family, Retail, See Remarks
Power Company: Centralia City Light
Power Production Type: Electric, Natural Gas
Preliminary Title Ordered: yes
Property Condition: Good
Site Features: High Speed Internet, Rooftop Deck

Financial

Cap Rate: 5
Electric Expense: 34225
Fuel Expense: 8270
Gross Adjusted Income: 626327
Gross Rent Multiplier: 19
Gross Scheduled Income: 626327
Insurance Expense: 5125
Leasable Area: 55100
Leasable Area Units: Square Feet
Leased Items: None
Net Operating Income: 528260
Possession: Closing
Sale Type: MLS
Seller Disclosure: Provided
Special Listing Conditions: None
Tax Annual Amount: 16357
Tax Year: 2022
Total Expenses: 98067
Total Monthly Income: 47905

Zoning Info


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Contact - Listing ID 1999997

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Realty Station Inc.

Bremerton, WA 98310
Phone: 360-377-5699

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