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Kent,WA 98032
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,376 sqft
Price per Sqft $205
Subdivision Downtown Kent
MLS Listing ID 2418375
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1958
Annual Tax Amount $12,879
Lot Size 8,156 Sqft
Property Sub-Type Multi Family
Property Description
Fully occupied 7.39% cap rate + Value-add in downtown Kent location - Mixed-use building with 3 retail units and 5 apartments boasts strong in-place rents and ability to renovate remaining two apartment units. Renovated in 2021 including retail spaces. Aladin Bail Bonds anchors ground floor retail with 7 years remaining on lease and yearly 4% increases. Potential for owner-user in need of office or retail space. Apartment units are bright, spacious, and historically easy to rent. Coin-op laundry and 10 parking spaces in dedicated lot. Building includes renovated non-conforming studio (350SqFt) for additional upside.
Location
State WA
County King
Area 330 - Kent
Interior
Flooring Laminate,Vinyl Plank
Exterior
Exterior Feature Cement/Concrete
View Y/N No
Roof Type Flat
Building
Lot Description Curbs,Paved,Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Kent
Others
Acceptable Financing Cash Out,Conventional,FHA,VA Loan
Listing Terms Cash Out,Conventional,FHA,VA Loan