267 SE Washington Ave, Chehalis WA 98532 $1,295,000 SOLD SOLD JL Lutz & Company Realtors Jim Lutz, CCIM, RECS 503-750-6388 Email: contactjimlutz@gmail.com www.jimlutzccim.com
267 SE Washington St, Chehalis, WA 26 Apartment Units Plus 1 House Unit Mix: Units Type 6 Studio/1 Bath 16 1 Bedroom/1 Bath 3 2 Bedroom/1 Bath 1 3 Bedroom/1 Bath House 2 Bedroom/1 Bath Year Built: Desired Transaction: 1924 Apartments; 1977 House Sale For Cash/Installment Sale 1031 Closer To PDX For Residential Income Properties Centrally located in Chehalis, Washington. Close to shops and services. Please do not contact the tenants or manager as they are not aware of the sale. All offers should be subject to inspection. For More Information Contact: Secure Mail: J.L. Lutz & Company Realtors 7327 SW Barnes Road, #225 Portland, OR 97225 Client Centered Real Esate Services WEB: www.jllutz.com www.jimlutzccim.com PH: 503-750-6388 Direct FAX: 503-297-3915 Jim Lutz, CCIM Email: contactjimlutz@gmail.com All information is from sources deemed reliable but is not guaranteed. A prospective purchaser is expected to verify all information and complete their professional inspections during their due dilligence. Subject to prior sale, changes and withdrawal.
267 SE Washington St, Chehalis, WA 26 Apartment Units Plus 1 House Centrally located in Chehalis, Washington the property is close to shops and services. It is within walking distance to John Dobson Park and Antique Stores. Chehalis is charming community between Portland, Oregon and Seattle, Washington just off of the I -5 corridor. Property notes 26 unit building: It is 3 stories and sits on a sloped lot with 3 units in the basement on the lower end of the slope. The balace of the basement has some storage and holds the gas central hot water heaters which were new approximately 2010. The balance of the units are on the main (1st) and 2nd floor. All units have baseboard electric heating and gas ranges. The owner pays for gas for the hot water heaters and the cooking ranges in all units. Tenants pay the electricity. There is a coin-op laundry room on the main floor with 2 washer and 2 dryers (gas operated) that are owned by the seller. Seller collects the proceeds monthly. The roof was new in approximately 2000 and a new water service line was installed in approximately 2008. Tax records indicate building square footage as 6,632 zoned R-1. For More Information Contact: Secure Mail: J.L. Lutz & Company Realtors 7327 SW Barnes Road, #225 Portland, OR 97225 Client Centered Real Estate Services WEB: www.jllutz.com www.jimlutzccim.com PH: 503-750-6388 Direct FAX: 503-297-3915 Jim Lutz, CCIM Email: contactjimlutz@gmail.com All information is from sources deemed reliable but is not guaranteed. A prospective purchaser is expected to verify all information and complete their professional inspections during their due dilligence. Subject to prior sale, changes and withdrawal.
267 SE Washington St, Chehalis, WA 26 Apartment Units Plus 1 House Notes on single family house: Tax records indicate the house is 1,826 square feet and is zoned R-1. Tenant pays water, sewer, garbage and electricity. Is has on site parking, washer/dryer hook up, dishwasher, electric range and refrigerator. Notes to Income/Expense projection: Real estate taxes include both properties. On site manager receives a rent free studio unit for basic services like showing units to prospective tenants and atking applications. He also does some minor repair work on an hourly or per project basis. All rents are mailed directly to the owner who does the professional side of mangment duties. Thw owner supplied the income and expense information for the projections. For More Information Contact: Secure Mail: J.L. Lutz & Company Realtors 7327 SW Barnes Road, #225 Portland, OR 97225 Client Centered Real Estate Services WEB: www.jllutz.com www.jimlutzccim.com PH: 503-750-6388 Direct FAX: 503-297-3915 Jim Lutz, CCIM Email: contactjimlutz@gmail.com All information is from sources deemed reliable but is not guaranteed. A prospective purchaser is expected to verify all information and complete their professional inspections during their due dilligence. Subject to prior sale, changes and withdrawal.
Annual Property Operating Data DO NOT DISTURB TENANTS OR MANAGER. Offers should be made subject to inspection. Consists of 26 apartment units and 1 house adjacent to the appartments. New loan to be obtained by buyer. Assumptions on new loan are: 5.5% annually amortized over 30 years. Seller will consider carrying the financing with increase in interest rate and appropriate downpayment. Jim Lutz, CCIM 503-750-6388 Email: contactjimlutz@gmail.com www.jimlutzccim.com JL LUTZ & Company Realtors Purpose Income/Expense Projection Name Location 267 SE Washington,Chehalis,WA Property Type Apartments Date 4 April 2013 Units 27 Price $1,295,000 -Loans 906,500 Down Payment 388,500 +Acq Costs 4,000 +Loan Points 9,065 Investment 401,565 $/Unit % of GI Annual $ Total Gross Income $6,160 100.0% $166,320 - Vacancy & Credit Loss 308 5.0% 8,316 Effective Income $5,852 95.0% $158,004 Less: Operating Expenses Real Estate Taxes 307 5.0% 8,283 Insurance 140 2.3% 3,787 Water/Sewer 267 4.3% 7,196 Garbage 108 1.8% 2,920 Gas 189 3.1% 5,100 Electric 52 0.8% 1,400 Advertising 27 0.4% 725 Repairs/Maintenance 200 3.2% 5,396 Replacement Reserves 185 3.0% 5,000 Miscellaneous 148 2.4% 4,000 Management Fee 178 2.9% 4,800 Total Operating Expenses $1,800 29.2% $48,607 Net Operating Income $4,052 65.8% $109,397 Less: Debt Service 1st Mortgage 2,288 37.1% 61,764 Total Debt Service $2,288 37.1% $61,764 Net Operating Cash Flow $1,764 28.6% $47,633 Capitalization Rate 8.45% Gross Income Multiplier 7.79 Cash on Cash 11.86% Debt Coverage Ratio 1.771 Price/Unit $47,963 The data and calculations presented herein, while not guaranteed, have been obtained from sources we believe to be reliable. Produced by planease for Windows from Analytic Associates
Monthly Gross Income Unit Rent Roll 4/2/2013 3 Brm/1 Ba 1 700 700 2 Brm/1 Ba house 1 875 875 2 Brm/1 Ba 1 595 595 2 Brm/1 Ba 1 600 600 2 Brm/1 Ba 1 635 635 1 Brm/1 Ba 13 6,435 495 1 Brm/1 Ba 1 500 500 1+ Brm/1 Ba 1 550 550 1+ Brm/1 Ba 1 600 600 Studio/1 Ba 6 2,370 395 Totals 27 13,860 513 The data and calculations presented herein, while not guaranteed, have been obtained from sources we believe to be reliable. Produced by planease for Windows from Analytic Associates
PROPERTY ADDRESS: 267 Se Washington Ave, Chehalis, WA, 98532 FLOODSCAPE Map Number 5301041362C Effective Date July 17, 2006 Flood Legend High flood risk Moderate flood risk Low flood risk This report makes no representations or warranties concerning its content, accuracy or completeness. STDBonline.com 469.574.1234 Powered by FloodSource 877.77.FLOOD www.floodsource.com 1999-2012 SourceProse Corporation. All rights reserved. Protected by U.S. Patent Numbers 6631326, 6678615, 6842698, and 7038681.
Site Map 267 SE Washington Ave, Chehalis, WA, 98532 Ring: 0.5, 1, 3 Miles Prepared by Jim Lutz, CCIM Latitude: 46.660553 Longitude: -122.96079 April 02, 2013 2013 Esri