Active · Residential Income

101 SW 2nd St , Chehalis, WA 98532

Chehalis, WA 98532

$10,250,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Lee & Associates Commercial RE · MLS #2495226 · Active

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About this property

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.

Property details

Property type: Multi Family
Year built: 1922
Lot size: 90,605 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $14,724 (2026)
Parking spaces: 102
School district: Chehalis

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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