For Sale
$5,400,000
702 5Th Ave Kent, WA 98032
- Added:
- Dec 11, 2024
- Days on market:
- 137
Highlights
- Value-add opportunity: 25-unit multifamily property offering potential for rent increases and the addition of a three-bedroom unit.
- Ideal unit mix: 25 townhome-style units averaging 966 sq ft, including one-, two-, and three-bedroom layouts; renovated units feature in-unit washer/dryer.
- Prime location: Less than one mile from Kent Station (Sounder Train service) and four miles from the planned Kent Des Moines Link light rail station.
- Proximity to major employers: Within four miles of Boeing and Blue Origin, with easy access to Highways 516 and 167.
- Strong submarket fundamentals: High projected apartment demand, a large blue-collar workforce, and rising single-family home prices support multifamily demand; 49% renter occupancy within a three-mile radius.
- 1.3% Seller's Offering Cap Rate.
Property Details for 702 5Th Ave
- Property type
- Apartment buildings
- Year Built
- 1966
- Buildings
- 4
- Stories
- 2
- Lot Size (sq. ft)
- 39,204 SF
- Units
- 25
Location Insight
- City
- Kent
- County
- King
- State
- Washington
- Latitude
- 47.375184083701
- Longitude
- -122.23865060031
Nearby Similar for Sale
FAQs
- Where is the apartment building located?
- The property is located at 702 5Th Ave Kent, WA.
- What is the asking price?
- The asking price for this property is $5,400,000.
- What are key features of this property?
- This property features: Value-add opportunity: 25-unit multifamily property offering potential for rent increases and the addition of a three-bedroom unit.; Ideal unit mix: 25 townhome-style units averaging 966 sq ft, including one-, two-, and three-bedroom layouts; renovated units feature in-unit washer/dryer.; Prime location: Less than one mile from Kent Station (Sounder Train service) and four miles from the planned Kent Des Moines Link light rail station.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Visit Broker Website