Listed by Lee & Associates Commercial RE
$2,695,000

Estimated payment $16,973/month

Total Views 2,498
22 Beds
22 Baths
11,000 Sq Ft
$245 Price per Sq Ft

Highlights

  • 0.35 Acre Lot
  • Thermal Windows
  • Baseboard Heating
  • No HOA
  • Ceramic Tile Flooring

About This Home

First Avenue Townhomes is a well-maintained 11-unit townhome-style community located in Kent, WA. Built in 1966, the property offers large, two-bedroom, one-and-a-half bath units averaging 1,000 SF with walk-up entries, generous living areas, private patios, and skylit bathrooms. Each unit includes washer/dryer hookups and functional two-level layouts with ample storage. Recent capital improvements include a new roof (2019), upgraded windows (2018), and copper supply lines. Off-street parking for 18 vehicles offers additional income potential. With clean interiors, durable systems, and the opportunity for light cosmetic upgrades, the property provides stable in-place cash flow with meaningful value-add upside.

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#: 2400883

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,464

Year Built

  • Built in 1966

Parking

  • 15 Parking Spaces

Home Design

  • Slab Foundation

Interior Spaces

  • 11,000 Sq Ft Home
  • 2-Story Property
  • Thermal Windows

Flooring

  • Laminate
  • Ceramic Tile

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 22 Bathrooms

Additional Features

  • 0.35 Acre Lot
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Kent Subdivision

Listing and Financial Details

  • Assessor Parcel Number 9197100373

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,464

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1966
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 11000
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: Buyer brk to be present at all showings
  • Special Features: VirtualTour
  • Cumulative Days on Market: 47

Interior Features

  • Total Bedrooms: 22
  • Fireplace: No
  • Flooring: Ceramic Tile, Laminate, See Remarks
  • Interior Amenities: Ceramic Tile, Laminate
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: See Remarks,Thermal Windows

Exterior Features

  • Roof: See Remarks
  • View: No
  • Waterfront: No
  • Construction Type: See Remarks
  • Exterior Features: See Remarks
  • Foundation Details: See Remarks, Slab
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • Total Parking Spaces: 15
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • WaterSewerGarbage: 24777

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Kent

Lot Info

  • Parcel Number: 9197100373
  • Lot Size Acres: 0.3548
  • Lot Size Sq Ft: 15453
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • MLSLotSizeSource: county
  • MLSSquareFootageSource: seller
  • ZoningJurisdiction: City

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 11
  • LeasedItems: None
  • TotalMonthlyIncome: 11446

Multi Family

  • Gross Scheduled Income: 271707
  • Net Operating Income: 172915
  • Number Of Units Total: 11
  • Insurance Expense: 8800
  • Leasable Area: 11000
  • EnergySource: Electric
  • UnitsInBuildingTotal: 11
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2025
  • Tax Annual Amount: 27464

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 $2,695,000 -- $245 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2400883

Northwest Multiple Listing Service (NWMLS)