406 E George St - Apartments FOR SALE


Kent, WA 98031- East Hill-Meridian
$1,875,000 USD
425-444-6501
406 E George St, Kent, WA for Sale
$1,875,000 USD
Apartments - FOR SALE
1/24
null | 5.33% Cap Rate

406 E George St
Kent, WA 98031
East Hill-Meridian


HIGHLIGHTS

  • Positioned on a corner lot in Downtown Kent less than a 15-minute walk from Kent Station
  • Turnkey property featuring fully renovated unit interiors, 1,000+ SF two-bedroom floor plans, fresh paint, and mostly dual-pane vinyl windows
  • 9 off-street parking spaces
  • Attractive midcentury modern aesthetic priced at $217 per foot
  • Washer / dryer hookups (all machines currently resident owned)
  • Additional attractive unit features include decks or patios, dishwashers, spacious floor plans, and ample closet space

OVERVIEW

Situated on a corner lot in Downtown Kent, approximately 20 miles south of Seattle city limits and a 15-minute walk from Kent Station, Skylite Court is an 8-unit apartment property featuring spacious 2-bedroom units. This turnkey property features in-unit washer/dryer hookups, 9 off-street parking spaces, and fully renovated units with updated LVP and carpeted flooring, new kitchen countertops, and updated bath vanities. The property, on the market for the first time in 20 years, will appeal to a multifamily investor interested in simply stepping in and taking over the profitable operations.

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$184 USD /SF

# OF UNITS

8

PRICE/UNIT

$234,375

CAP RATE

5.33%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skylite Court Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

MR-M, Kent

APN/PARCEL ID

914710-0100

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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