Listing courtesy of Windermere Real Estate JS 360-653-2509
$1,599,990
Exceptional opportunity to acquire a well-maintained 8-unit multifamily property in the heart of Kent. This turnkey investment offers immediate cash flow, consistently low vacancy, and substantial upside through future rent growth. There are multiple exit strategies as each condo is individually parceled off with recent sales as high as $260k… Read More in the community. Each spacious 2-bedroom, 1-bath unit features approximately 930 SF, a fireplace, in-unit washer and dryer, reserved parking, and an efficient floor plan that continues to attract long-term tenants. Many tenants are long-term with lower than market rents with the potential to achieve $2,100+ per month as leases renew and units are refreshed. Pro-forma shows this as an 8% cap rate. Possibility for even higher rents as mid-term rentals. HOA dues cover professional management, water, sewer, garbage, exterior building maintenance, and landscaping. Creating a low-maintenance ownership experience. Recent improvements include newer roofs, brand-new siding, windows, doors, gutters, balconies, electrical panels, crawlspace insulation, moisture barriers, seismic retrofitting, road resurfacing, and concrete replacement. A rare opportunity to acquire a stable, income-producing 8-unit asset with long-term appreciation and value-add potential in one of South King County's strongest rental markets. Extremely convenient location to highways, public transportation, and shopping. Read Less
Listing courtesy of Windermere Real Estate JS 360-653-2509
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
7
Days on Website
7
Last Updated
Property Type
Multi Family
Square Ft.
7,440
Lot Size
2.79 Acres
Year Built
1979
Property Tax
$19,912
MLS Number
2559752
30 Days Snapshot Of 98030
$736k
+19%
(avg) sold price
24
-20%
homes sold
84
+37%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 7440, Building Area Units: Square Feet, Calculated Square Footage: 7440, Construction Materials: Wood, Elevation Units: Feet, Leasable Area: 7440, Living Area: 0, Number Of Units Total: 8, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 8, Year Built: 1979
Cooling
Cooling: Window Unit(s)
Expenses
Other Expense: 40636
Exterior Features
Exterior Features: Wood Products
Fireplaces
Fireplaces Total: 0
Floors
Flooring: Laminate
Foundation
Foundation Details: Poured Concrete
Garage
Garage Spaces: 0
Heating
Heating: Wall Furnace
Home Owner's Association
Association Fee Frequency: Monthly, Association Fee: $3386.33
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service.
The listings presented here may or may not be listed by Wesley Lau. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by Iolanthe Chan-McCarthy. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. Listings last updated on .
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