20611 108th Ave SE - Apartments FOR SALE


Kent, WA 98031- East Hill-Meridian
$4,795,000 USD
206-812-9101
20611 108th Ave SE, Kent, WA for Sale
$4,795,000 USD
Apartments - FOR SALE
1/20
null | 5.27% Cap Rate

20611 108th Ave SE
Kent, WA 98031
East Hill-Meridian


HIGHLIGHTS

  • Immediate operational upside - expenses are nearly 50% of EGI
  • Similar unit layouts - ideal renovation value-add opportunity
  • Full size in-unit washer/dryers
  • 44 total parking spaces; 37 carport spots
  • 2BD/1.5BTH townhouse style units
  • Brand new roofs on all 5 buildings (Feb. 2025)

OVERVIEW

Paragon Real Estate Advisors pleased to announce the exclusive listing of the Ridge at Panther Creek Apartments, a 22-unit value-add opportunity. The property features 22 nearly identical 2 bed/1.5 bath townhouse style units with full appliance packages that include a full size washer and dryer, dishwasher, and refrigerator. There are 5 buildings on one parcel and all 5 of the roofs were replaced in February of 2025. There are 44 parking spots in total with 37 carport spaces. Ownership has been consistently improving the property and handling deferred maintenance items over the last 12 months with the introduction of Guide Property Management. The property presents immediate operational upside due to expense load of nearly 50% of EGI. Four of the units have been renovated with LVP floor, quartz countertops, kitchen cabinets, and bathroom vanities leaving a renovation value-add opportunity with the remaining 18 units. Ideally situated in Kent’s vibrant East Hill neighborhood, this property offers residents convenient access to shopping, dining, and top-rated schools while maintaining a peaceful suburban feel. Minutes from major highways, public transit, and bustling retail centers, the location provides seamless connectivity to the Kent Valley, Seattle, Bellevue, and surrounding employment hubs. With nearby parks, recreational facilities, and a diverse community, this prime location blends urban convenience with natural beauty, making it an exceptional place to invest.

FOR SALE DETAILS

PRICE

$4,795,000 USD

PRICE/SF

$225 USD /SF

# OF UNITS

22

PRICE/UNIT

$217,955

CAP RATE

5.27%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ridge at Panther Lake

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

44

LAND DETAILS

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

MR-H

APN/PARCEL ID

052205-9290

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

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Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.