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Listed by The Foundation Group LLC
$ 1,725,000
Est. payment /mo
New
418 W Meeker ST Kent, WA 98032
8 Beds
8 Baths
8,376 SqFt
UPDATED:
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
Fireplace false
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
Senior Community No
Acceptable Financing Cash Out, Conventional, FHA, VA Loan
Listing Terms Cash Out, Conventional, FHA, VA Loan
"Three Trees" icon indicates a listing provided courtesy of NWMLS.