20244 108th Ave SE Kent, WA 98031
Meridian NeighborhoodEstimated payment $7,261/month
Highlights
- 1.06 Acre Lot
- Secluded Lot
- No HOA
- Kentridge High School Rated A
About This Lot
Earn a lavish cash flow with awesome long-term tenants while going through the development process. Property has historically been used as a non-conforming duplex, but with MR-M zoning, the possibility exists to convert existing home into a conforming multi-family dwelling or keep as-is. 20+ units can be built on the existing parcel; work with the owners of the corner lot and potentially cost share in some of the development. New state laws have passed likely making it more favorable for lucrative development options, City of Kent in process of incorporating these changes to their Comprehensive Plan to be finished in summer of 2025. No critical areas! Current NOI= $42,181
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2285405
Property Details
Property Type
- Land
Est. Annual Taxes
- $6,339
Lot Details
- 1.06 Acre Lot
- Secluded Lot
- Level Lot
- Zoning described as Multi-Family
Schools
- Glenridge Elementary School
- Meeker Jnr High Middle School
- Kentridge High School
Utilities
- Septic Design Installed
- Sewer in Street
Community Details
- No Home Owners Association
- Panther Lake Subdivision
Listing and Financial Details
- Assessor Parcel Number 0522059128
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,002 | $683,000 | $353,000 | $330,000 |
| 2023 | $6,339 | $590,000 | $306,000 | $284,000 |
| 2022 | $6,293 | $652,000 | $279,000 | $373,000 |
| 2021 | $5,809 | $521,000 | $225,000 | $296,000 |
| 2020 | $5,696 | $457,000 | $235,000 | $222,000 |
| 2018 | $4,981 | $429,000 | $179,000 | $250,000 |
| 2017 | $1,128 | $367,000 | $163,000 | $204,000 |
| 2016 | $1,116 | $348,000 | $155,000 | $193,000 |
| 2015 | $1,192 | $338,000 | $155,000 | $183,000 |
| 2014 | -- | $325,000 | $155,000 | $170,000 |
| 2013 | -- | $333,000 | $206,000 | $127,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 09/15/2024 09/15/24 | Pending | -- | -- | -- | |
| 09/15/2024 09/15/24 | Pending | -- | -- | -- | |
| 07/27/2024 07/27/24 | For Sale | $1,275,000 | 0.0% | $536 / Sq Ft | |
| 07/27/2024 07/27/24 | For Sale | $1,275,000 | +207.2% | -- | |
| 04/18/2017 04/18/17 | Sold | $415,000 | -7.8% | $203 / Sq Ft | View Prior Sale |
| 03/07/2017 03/07/17 | Pending | -- | -- | -- | |
| 02/22/2017 02/22/17 | For Sale | $450,000 | 0.0% | $221 / Sq Ft | |
| 02/13/2017 02/13/17 | Pending | -- | -- | -- | |
| 01/12/2017 01/12/17 | For Sale | $450,000 | 0.0% | $221 / Sq Ft | |
| 11/03/2016 11/03/16 | Pending | -- | -- | -- | |
| 10/26/2016 10/26/16 | For Sale | $450,000 | -- | $221 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $415,000 | Rainier Title Llc | |
| Interfamily Deed Transfer | -- | Accommodation | |
| Interfamily Deed Transfer | -- | -- | |
| Warranty Deed | -- | -- | |
| Interfamily Deed Transfer | -- | Ticor Title Insurance |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $269,750 | Commercial |
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2285405
APN: 052205-9128
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