306 2nd ST NE, Auburn, WA 98002

$989,000

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Listing courtesy of Torre Realty.

List Price
$989,000
Status
ACTIVE
MLS#
2391346
Price Change
▼ $6,000 1782016507
Days on Market
415
Style
54 - 4-Plex
Building Condition
Good
Lot Size (sq ft)
6,608

Property Description

Turn-key 5 unit rental property in the heart of Auburn! This fully rented investment property is walking distance to Main Street with all the shops, restaurants and public transportation. The building has a brand new roof and siding, and all units have been recently updated—no major work needed. 100% occupancy with zero vacancies and a waitlist. Some tenants have been here for over 7 years and would love to stay. There’s off-street parking in back for up to 6 cars, plus an on-site coin-op laundry room that brings in an extra $200/month. This is a solid, low-maintenance rental property in a great location with strong tenant demand. Ready to go from day one.

Additional Information

List Date
2025-06-12 23:29:30
Community
Auburn
Net Operating Income
$33,784
Gross Adjusted Income
$66,303
Gross Scheduled Income
$66,303
Total Monthly Income
$5,545
Insurance Expenses
$1,570
Water/Sewer/Garbage Expenses
$1,500
Gross Rent Multiplier
16.44
Total Expenses
$32,519
Cap Rate
3
Total Number of Units
5
Unit Name
306
Potential Terms
Cash, Conventional, Owner Will Carry
Year Built
1922
Roof
Composition
Electric Expenses
1000
Other Expenses
20292
Energy Source
Electric, Natural Gas
School District
Auburn
Elementary School
Washington Elementary
Middle School
Cascade Mid
High School
Auburn Snr High
Total Monthly Income
$5,545
Gross Scheduled Income
$66,303
Gross Adjusted Income
$66,303
Tax Year
2024
Insurance Expense
$1,570
W/S/G Expenses
$1,500
Total Expenses
$32,519
Net Operating Income
$33,784
Gross Rent Multiplier
16.44
Cap Rate
3
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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