Madlen Court Rental Homes & Self-Storage
Value-Add Rental Homes with additional Self-Storage building
Marketing description
Madlen Court Rental Homes & Self-Storage blends highly desired single-family type rental homes with the additional benefit of self-storage. Featuring 6 single-family style rentals (all 3BR/2BA, ~1,400 SF avg) plus 14 self-storage units. Tenants pay 100% of utilities; homes feature two-car garages, modern construction, and newer roofs—built for low-drama ownership. The tucked-away, off-street setting is walkable to Chehalis schools, Boys & Girls Club, parks, and athletic facilities, and is less than 10 minutes to I-5 and downtown. Chehalis sits almost exactly halfway between Seattle and Portland on the I-5 corridor, and the market’s recent positive economic activity include an announced Amazon operations facility projected at 500–1,000 jobs and the PSE takeover of the TransAlta power plant creating an estimated 700 jobs. There are two investment approaches an investor can take. Raise residential rents and push storage rents toward market. There is an estimated 87% increase feasible for storage based on rent comps. Alternatively, an investor can add additional units based on 24 du/acre density zoning for the property. Also, an investor subdivide and sell the residential units individually for a profit and keep the storage for pure cash-flow.
Investment highlights
Self-Storage Rent Increases - Potential for 87% increase in storage income based on surrounding self-storage comps.
Residential Rent Increases - New rent increases will be in full effect by September 1, 2026, increasing monthly rent $833 per month. This raises the cap rate to 8.06% on a $1,840,000 purchase price
Additional Residential Units - The city updated the zoning, increasing the allowable density up to 24 units an acre. The new zoning allows for additional residential units to be created which would significantly increase the income over a fully rented self-storage unit at market rent.
Condo Option - Subdivide and sell Single-Family Homes and Duplexes individually.
Location - Great family-oriented set-up and location that is walkable to several schools, restaurants, athletic facilities, and after school programs with quick access to Interstate 5.
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