Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements—including new roofs, furnaces, and water heaters—eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374
Pending
Listed by:
Rachel Harwood,
COMPASS
$2,300,000
501 21st Street SE, Auburn, WA 98002
2beds
1baths
8,000sqft
Est.:
Multi Family
Built in 1973
-- sqft lot
$2,165,600 Zestimate®
$288/sqft
$-- HOA
What's special
Private garagesUpdated fixturesLarge shared fenced yardsIn-unit laundryStainless steel appliances
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