412 -418 W Meeker Street Kent, WA $ 2,050,000
412 -418 W Meeker Street
$ 2,050,000
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412 -418 W Meeker Street

Kent, WA, 98032
$ 2,050,000
Baths0.0 Sq 8,376

Monthly Estimate*

$ 14,320

Listed by Paragon Real Estate Advisors
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Studio

Multi-Family Home for sale in Kent, WA

for $2,050,000. This 8,376 square foot home was built in 1958 on a lot size of 0.1872.

Centrally located in the heart of Downtown Kent--this presents a compelling opportunity to acquire a highly visible mixed-use property, with 60% of its units having undergone renovation since 2021. The prospective owner not only inherits the stability of existing retail tenants but also possesses the value-add potential to renovate the remaining apartment units and bring all the rents to market. The Melbourne Building boasts a versatile design, featuring three leased retail spaces on the ground floor and five apartment units on the top floor. All three retail units have been leased and undergone comprehensive interior renovations within the past two years.

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Multi-Family Active

Price

$ 2,050,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 12,492

Style

5-9 Units

Lot Size

0.1872

Year Built

1958

Town/City

Kent

County/Region

King

MLS | Web ID

2190944

Features
General
Sewer Sewer Connected
Heating Hot Water Recirc Pump
Cooling None
Possession Closing
Roof Flat
Exterior Features Brick
HOA 0
Year Built 1958
Property SubType Multi-Family
Tax Year 2023
County King
Net Operating Income 134662
Insurance Expense 3520
New Construction N
Property Type Residential Income
HOA / Comm Assn N
Subdivision Name Kent
Special Listing Conditions None
Status Active
Directions From downtown Seattle take I-5 S and WA-167 S to Willis St in Kent. Take the WA-516/Willis St exit from WA-167 S. Continue on Willis St. Take 4th Ave S to W Meeker St.
City Kent
Buyer Agent Compensation 1
View Y/N N
Senior Community Y/N N
High School District Kent
Open Parking Spaces 10
Total Units 9
MLS Area 330 - Kent
Lot Size Square Feet 8156
Waterfront Y/N N
Carport Spaces 0
Carport Y/N N
Street Name Meeker
Listing Terms Cash Out Conventional
Tax Annual Amount 12492
Electric Expense 0
Fuel Expense 0
Public Remarks Centrally located in the heart of Downtown Kent--this presents a compelling opportunity to acquire a highly visible mixed-use property with 60% of its units having undergone renovation since 2021. Th
Leasable Area 8376
Structure Type Multi Family
Building Area Units Square Feet
Standard Status Active
Units Below Grade false
Units In Building Total 9
Water Sewer Garbage 13659
Property Style 55 - 5-9 Units
Cap Rate 6.57
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Exterior
Total Parking 10
Building Area Total 8376
Lot Size Acres 0.1872
Lot Size Units Square Feet
Covered Spaces 0
Open Parking Y/N Y
Irrigation Water Rights Y/N N
Parking Uncovered Spaces 10
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Interior
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Street Suffix Street
Living Area Units Square Feet
Power Production Type Electric
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Internal Only
OriginalMLSID NWM2190944
Street Number 1 412
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* Excluded Features
List By
Ben Douglas

Listing Agent

Paragon Real Estate Advisors

Broker

Affordability Calculator

$15,361
Per Month
93%
7%
0%
Monthly Principal & Interest
$14,320
Monthly Property Taxes
$1,041
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
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Nearby
257264 Elementary School
256822 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/17/2024$2,050,000 Listed Price

Map


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412 -418 W Meeker Street, Kent, WA, 98032 is a Multi-Family Home for sale at $2,050,000 with 8,376 sqft and a lot size of 0.1872. 412 -418 W Meeker Street is a studio with 0.0 baths and was built in 1958. The property's zip code is 98032 which is in Kent, WA