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501 21st Street SE Auburn, WA $ 2,300,000
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$ 2,300,000 Get more info
501 21st Street SE
$ 2,300,000
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501 21st Street SE

Auburn, WA, 98002
$ 2,300,000
Baths0.0 Sq 8,000

Monthly Estimate*

$ 14,349

Listed by COMPASS
501 21st Street SE, Auburn, WA 98002 - Image 1
501 21st Street SE, Auburn, WA 98002 - Image 2
501 21st Street SE, Auburn, WA 98002 - Image 3
501 21st Street SE, Auburn, WA 98002 - Image 4
501 21st Street SE, Auburn, WA 98002 - Image 5
501 21st Street SE, Auburn, WA 98002 - Image 6
501 21st Street SE, Auburn, WA 98002 - Image 7
501 21st Street SE, Auburn, WA 98002 - Image 8
501 21st Street SE, Auburn, WA 98002 - Image 9
501 21st Street SE, Auburn, WA 98002 - Image 10
501 21st Street SE, Auburn, WA 98002 - Image 11
Studio

Multi-Family Home for sale in Auburn, WA

for $2,300,000. This 8,000 square foot home was built in 1973 on a lot size of 0.921.

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

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Multi-Family Pending

Price

$ 2,300,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 16,109

Style

5-9 Units

Lot Size

0.921

Year Built

1973

Town/City

Auburn

County/Region

King

MLS | Web ID

2394373
Features
General
Living Area 0
Sewer Sewer Connected
Heating Baseboard
Cooling None
Possession Closing
Roof Composition
HOA Fee 0
Security Features Partially Fenced
Year Built 1973
Property Subtype Multi Family
Tax Year 2025
County King
Net Operating Income 167803
Insurance Expense 5510
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Auburn
Possible Use Multi-Family
Special Listing Conditions None
Status Pending
Directions North on A St SE Right onto 21st St SE Property on Left
City Auburn
Senior Community Y/N N
High School District Auburn
Zoning Description Multi-Family
Open Parking Spaces 8
Number Of Units Total 1
MLS Area 310 - Auburn
Lot Size Units Square Feet
Lot Size Square Feet 40117
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Out Conventional
Tax Annual Amount 16109.79
Electric Expense 2811
Fuel Expense 2811
Public Remarks 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
Leasable Area 8000
Structure Type Multi Family
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Pending
Units Below Grade false
Units In Building Total 8
Water Sewer Garbage 2812
Property Style 55 - 5-9 Units
Cap Rate 7.3
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Exterior
Exterior Amenities Brick Wood
Lot Features Paved Sidewalk
Water Source Public
Total Parking 16
Building Area Total 8000
Lot Size Acres 0.921
Waterfront Y/N N
Covered Spaces 8
Irrigation Water Rights Y/N N
Site Features Cable TV Fenced-Partially High Speed Internet
Parking Uncovered Spaces 8
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Interior
Flooring Vinyl Plank Carpet
Total Fireplaces 0
Total Stories 1
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Bedrooms Possible 0
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2394373
Street Number 1 501
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* Excluded Features
List By
Rachel Harwood

Listing Agent

Compass

Broker

Affordability Calculator

$15,691
Per Month
91%
9%
0%
Monthly Principal & Interest
$14,349
Monthly Property Taxes
$1,342
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% 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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Nearby
257071 Elementary School
258444 Middle School
Unknown High School High School
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Pricing History
DatePricePrice ChangeDescription
7/9/2025$2,300,000 Listed Price

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501 21st Street SE, Auburn, WA, 98002 is a Multi-Family Home for sale at $2,300,000 with 8,000 sqft and a lot size of 0.921. 501 21st Street SE is a studio with 0.0 baths and was built in 1973. The property's zip code is 98002 which is in Auburn, WA

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