101 SW 2nd St, Chehalis, WA 98532

Property Description

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.

Listing Status:

Active

Data Last Updated:

May 21, 2026 at 4:20AM

Listing Office:

Lee & Associates Commercial RE : 206-267-1457

Listing Agent:

Nisha A Tomar : 206-267-1457

MLS ID:

2495226

Interior

• Appliances: Tankless Water Heater
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: Brick
• Parking: Parking spaces: 102

Construction

• Roofing: Composition
• General: 56 - 10+ UnitsPoured Concrete

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Chehalis
• County: Lewis

Lot

• Zoning: 004236002002
• View: CityMountainsPartialTerritorialView

Utilities

• Water: Public
• Sewer: Available

Financial

• Source: nwmls