534 6th Ave S, Kent, WA 98032

$825,000
4,992
SqFt

Listing courtesy of RSVP Real Estate. Selling Office: .

Sold Price
$825,000
List Price
$749,000
Status
SOLD
MLS#
1457647
Closing Date
May 29, 2019
Days on Market
1
Style
55 - 5-9 Units
Finished SqFt
4,992
Lot Size (sq ft)
15,600

Property Description

Investor Alert! This property has 6 units, all 2 bed/2 bath. Located in Downtown Kent, this property has value in land and building. The property has lots of potential with updates in units for rental income increase or keep as is. Current rents are well below market rates. 3 of the 6 units are under lease. 2 of the rented units are month to month with the 3rd unit's lease term expiring end of October. Coin operated laundry room for additional income. Seller is absentee owner. Must See!

Additional Information

List Date
2019-05-15 00:00:00
Community
Downtown Kent
Property Type
MULT
Units
6
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1982
Total Parking
12
Uncovered Parking
6
Exterior
Cement/Concrete, Stucco, Wood, Wood Products
Roof
Torch Down
Lot Details
Corner Lot, Dead End Street, Paved Street
School District
Kent
Total Monthly Income
$2,694
Gross Scheduled Income
$90,000
Vacancy Rate
50
Gross Adjusted Income
$32,328
Annual Taxes
$9,749
Tax Year
2019
Total Expenses
$9,749
Net Operating Income
$22,579
Gross Rent Multiplier
8
Cap Rate
3

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
2.00
Unit 1 Size
800
Unit 2 Beds
2
Unit 2 Baths
2.00
Unit 2 Size
800
Unit 3 Beds
2
Unit 3 Baths
2.00
Unit 3 Size
800
Unit 4 Beds
2
Unit 4 Baths
2.00
Unit 4 Size
800
Unit 5 Beds
2
Unit 5 Baths
2.00
Unit 5 Size
800
Unit 6 Beds
2
Unit 6 Baths
2.00
Unit 6 Size
800
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