Listed by Lee & Associates Commercial RE
$3,895,000

3601 I St NE Auburn, WA 98002

North Auburn Neighborhood

Estimated payment $24,489/month

Total Views 2,695
-- Bed
-- Bath
15,780 Sq Ft
$247 Price per Sq Ft

Highlights

  • 0.62 Acre Lot
  • No HOA
  • Ceramic Tile Flooring
  • Corner Lot
  • Thermal Windows

About This Home

I Street Apartments presents a well-maintained 16-unit community in Auburn, WA, built in 1988 on a 26,875 SF C3-zoned lot between the regional hubs of downtown Auburn and Kent. This strategic location offers strong connectivity via SR-167, access to major employers, retail, transit, and growing economic activity. The unit mix includes spacious 1- and 2-bedroom layouts with in-unit laundry, balconies/patios, and updates in select units. Durable systems, 24 off-street parking stalls, and double-pane windows (2016) enhance operational stability. With strong in-place rents and minimal deferred maintenance, the property offers compelling cash flow and long-term upside via light interior upgrades.

Listing Agent

Daniel Lim

Lee & Associates Commercial RE License #131121 Listed on: 06/30/2025

Lee & Associates Commercial RE

Co-Listing Agent

Candice Chevaillier, CCIM

Lee & Associates Commercial RE License #18886

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2400905

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $39,208

Year Built

  • Built in 1988

Lot Details

  • 0.62 Acre Lot
  • Corner Lot

Home Design

  • Slab Foundation
  • Composition Roof
  • Vinyl Construction Material

Interior Spaces

  • 15,780 Sq Ft Home
  • 2-Story Property
  • Thermal Windows

Flooring

  • Carpet
  • Laminate
  • Ceramic Tile

Parking

  • 24 Parking Spaces
  • Open Parking

Utilities

  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Auburn Subdivision

Listing and Financial Details

  • Assessor Parcel Number 0004000086

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$39,208

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1988
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 15780
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: Buyer Brk to be present at all showings
  • Special Features: VirtualTour
  • Cumulative Days on Market: 49

Interior Features

  • Fireplace: No
  • Flooring: Ceramic Tile, Laminate, Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: See Remarks,Thermal Windows

Exterior Features

  • Roof: Composition
  • Lot Features: Corner Lot
  • View: No
  • Waterfront: No
  • Construction Type: Metal/Vinyl
  • Exterior Features: Metal/Vinyl
  • Foundation Details: Slab
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 24
  • Open Parking: Yes
  • Total Parking Spaces: 24
  • ParkingUncoveredSpaces: 24

Utilities

  • Sewer: Sewer Connected
  • Water Source: Community
  • Cooling: None
  • Cooling Y N: No
  • Heating: Wall Unit(s)
  • Heating Yn: Yes
  • WaterSewerGarbage: 24704

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Auburn

Lot Info

  • Parcel Number: 0004000086
  • Lot Size Acres: 0.617
  • Lot Size Sq Ft: 26875
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: county
  • MLSSquareFootageSource: seller
  • ZoningJurisdiction: City

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.8
  • LeasedItems: None
  • TotalMonthlyIncome: 33017

Multi Family

  • Gross Scheduled Income: 396203
  • Net Operating Income: 256812
  • Number Of Units Total: 16
  • Insurance Expense: 12624
  • Leasable Area: 15780
  • EnergySource: Electric
  • UnitsInBuildingTotal: 16
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2025
  • Tax Annual Amount: 39208

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2025 06/30/25 For Sale $3,895,000 -- $247 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2400905

Northwest Multiple Listing Service (NWMLS)

Washington King County Auburn 98002 North Auburn

3601 I St NE, Auburn, WA

This home is located at 3601 I St NE, Auburn, WA 98002 and is currently priced at $3,895,000, approximately $246 per square foot. This property was built in 1988. 3601 I St NE is a home located in King County with nearby schools including Evergreen Heights Elementary School, Cascade Middle School, and Auburn High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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Daniel Lim
Listing Agent
Daniel Lim
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Lee & Associates Commercial RE
(253) 303-5968