Properties For Sale
Tall Firs Apartments
$7,360,000
Tall Firs Apartments
Centralia, WA
64-Unit
The deal traded off-market to a client who plans to renovate units and capitalize on the high demand for apartments in Centralia. Market data indicates rents have soared even during Covid to $1,150-$1,250 for 2B/1B units and $950-$1,000 for 1B/1B units.
The complex consists of eight structures and spans over an acre of fresh green grass, well-maintained grounds and towering fir trees. The unit mix has twenty-six1Bed/1Bath (770SqFt) units, thirty-seven 2Bed/1Bath (850SqFt) units, and one 3Bed/1Bath unit (850SqFt). Twenty of the units had washers and dryers but the rest of the building is serviced by two coin-op laundry rooms.
The Tall Firs apartments traded at a 5.02% cap rate and is poised for rental increases of around 20% plus the implementation of a utility billback. The complex is trending to a 7.3% cap rate.
| Current Cap Rate | 5.02% |
| Market Cap Rate | 7.26% |
| Built | 1977 |
| Price per SqFt | $141 |
| Price per Unit | $115,000 |
Listing Agents
Aaron Locke
P: 206.774.5436
E: Email Aaron
Ethan Szmania
P: 206.774.5419
E: Email Ethan














