Active · Residential Income

101 S 1st Street , Shelton, WA 98584

Shelton, WA 98584

$4,350,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Westlake Associates, Inc. · MLS #2580482 · Active

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About this property

101 First offers a unique mixed-use investment in the heart of downtown Shelton, widely regarded as the gateway to Hood Canal and the Olympic Peninsula. The property features 28 studio units, 10 one-bedroom apartments, and four retail spaces positioned along the city’s primary commercial corridor. A second 5,000 square-foot parcel at the corner of 1st and Cota Street serves as dedicated parking for the property and is connected to the main building via a permanent skybridge. Retrofitted in 2000 with building improvements, including electrical upgrades, the property continues to benefit from professional on-site management and efficient operations. Tenants enjoy off-street parking, controlled access, community garden space, and convenient access to schools, grocery stores, shopping, the local movie theater, and a range of downtown amenities. Importantly, Shelton offers a more affordable cost of living and rental environment relative to nearby Olympia and other South Sound markets, supporting consistent demand from residents seeking value without sacrificing access or convenience. With walkable access to the transit center and strong visibility along South 1st Street, the property is well positioned to capture stable, long-term tenant demand from both local renters and those priced out of higher cost surrounding areas.

Property details

Property type: Multi Family
Year built: 1908
Lot size: 14,374 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $27,140 (2026)
Parking spaces: 8
School district: Shelton

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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