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.
Active
Listed by:
Ethan Szmania,
The Foundation Group LLC,
Aaron Locke,
The Foundation Group LLC
$1,725,000
418 W Meeker Street, Kent, WA 98032
8beds
8baths
8,376sqft
Est.:
Multi Family
Built in 1958
-- sqft lot
$1,651,100 Zestimate®
$206/sqft
$-- HOA
What's special
Renovated non-conforming studio
- 62 days |
- 218 |
- 12 |
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