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Listed by Westlake Associates, Inc. Reid Jones
$ 4,500,000
Est. payment /mo
New
101 S 1st ST Shelton, WA 98584
10 Beds
38 Baths
21,879 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 21,879 sqft
Price per Sqft $205
Subdivision Downtown
MLS Listing ID 2472205
Style 56 - 10+ Units
Bedrooms 10
Year Built 1908
Annual Tax Amount $30,915
Lot Size 0.330 Acres
Property Sub-Type Multi Family
Property Description
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.
Location
State WA
County Mason
Area 175 - Shelton
Interior
Flooring Laminate, Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Wood
Amenities Available Gated Entry
View Y/N No
Roof Type Flat
Building
Lot Description Corner Lot, Curbs, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Shelton
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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