720 Washington AveKent, WA 98032

Property Details for 720 Washington Ave

Year built

1968

Lot size

0.47 AC

Property size (Sq ft)

7,380 SF

Property type

Apartment buildings

Description

Green Tree Court Apartments presents a compelling investment opportunity in Kent, Washington. This two-story, garden-style multifamily property comprises 17 units – 15 one-bedroom/one-bathroom and 2 two-bedroom/one-bathroom units. Situated on a 0.47-acre lot at 720 Washington Ave N, 98032, it benefits from a convenient location less than a mile from Kent Station retail mall and commuter rail, providing easy access to I-5, SR-167, and Sounder commuter rail. Built in 1968 and renovated in 1992, the property boasts recent improvements including a new mansard roof (2024), new doors and windows (2022), and fresh exterior paint (2024). Nine units have undergone recent renovations featuring new kitchen cabinets and quartz countertops, new solid surface flooring, upgraded appliances, and updated bathroom vanities and tub surrounds. The remaining eight units offer a value-add opportunity for increased returns through further renovations. The property totals 7,380 square feet, with a current asking price of $3,150,000, representing a price per unit of $185,294.12 and a price per square foot of $426.83. The property is zoned MR-M and offers a current cap rate of 6.01%. This presents a strong investment opportunity with potential for significant upside through market rent increases and further unit renovations.

Location Insight

City

Kent

County

King

State

Washington

Latitude

47.3873

Longitude

-122.247

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

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 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 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].