Listed by Global Real Estate Group, Bought with FTW Appraisal Partners, LLC
NOT LISTED FOR SALE

Estimated Value: $1,223,000 - $1,279,758

-- Bed
-- Bath
3,330 Sq Ft
$376/Sq Ft Est. Value

Last Sold June 15, 2023

Last sale price $1,220,000 $366 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $7,291/month

53 Days on Market

Highlights

  • No HOA
  • Baseboard Heating
  • Wood Siding
  • Vinyl Plank Flooring

About This Home

As of June 2023

A cash flowing, modernized property, with high rental demand! Quartz counters, recessed lighting, and new flooring in all units! A meticulously maintained, hard to find, private, condo-style building, on a quiet street with ample parking. All units are newly remodeled, and come with a fenced private yard, own deck or patio + washer and dryer. Current rents are significantly below market, since they were leased prior to ANY renovations. Major opportunity here to bring rents up to Market Rent: $2200+ Tenants pay ALL w/s/g! Prime location in Kent! Located in one of the largest industrial corridors in the nation: a job hub that provides over 100,000 jobs to local residents! Condo conversion? Buyer to verify. Turn key, cash flowing asset!

Last Agent to Sell the Property

Kyle Simon

Global Real Estate Group License #27563 Listed on: 03/24/2023

Last Buyer's Agent

Tej Asher

FTW Appraisal Partners, LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2039430

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,519

Year Built

  • Built in 1980 | Remodeled

Lot Details

  • 0.29 Acre Lot

Home Design

  • Quadruplex
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,330 Sq Ft Home
  • 2-Story Property

Flooring

  • Laminate
  • Vinyl Plank

Parking

  • 10 Parking Spaces
  • Open Parking

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Kent Subdivision

Listing and Financial Details

  • Assessor Parcel Number 3462800240

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,519

Year Built

Built in 1980 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1980
  • Buyer Agency Compensation: 2
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3330
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None

Interior Features

  • Fireplace: No
  • Flooring: Laminate, Vinyl Plank
  • Interior Amenities: Laminate Hardwood
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Remodeled
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Y N: No
  • Open Parking: Yes
  • Total Parking Spaces: 10

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: Window Unit A/C
  • Cooling Y N: Yes
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Puget Sound Energy
  • SewerCompany: City of Kent
  • WaterCompany: City of Kent
  • CableConnected: Comcast
  • InternetConnected: Comcast

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Kent

Lot Info

  • Parcel Number: 3462800240
  • Lot Size Acres: 0.2893
  • Lot Size Sq Ft: 12600
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13.27
  • LeasedItems: None
  • TotalMonthlyIncome: 7996

Tax Info

  • Year: 2022
  • Tax Annual Amount: 9519

Multi Family

  • Number Of Units Total: 4
  • Electric Expense: 124
  • EnergySource: Electric
  • UnitsBelowGrade: false

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 24, 2023
Closed on
Jun 15, 2023
Sold by
Supriya Saravanar
Bought by
Boopalan Saravanar
Seller's Agent
Kyle Simon
Global Real Estate Group
Buyer's Agent
Tej Asher
FTW Appraisal Partners, LLC
List Price
$1,274,000
Sold Price
$1,220,000
Premium/Discount to List
-$54,000
-4.24%
Views
157
Current Estimated Value
$1,251,379

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$31,379
Avg. Annual Appreciation
1.07%

Purchase Details

Listed on
Feb 15, 2022
Closed on
Feb 25, 2022
Sold by
Park and Ann
Bought by
Wa Prop 10 Llc
Seller's Agent
Joseph Ho
Berkshire Hathaway HS NW
Buyer's Agent
Martin Ho
Berkshire Hathaway HS NW
List Price
$1,000,000
Sold Price
$1,101,350
Premium/Discount to List
$101,350
10.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.32%
Original Mortgage
$1,122,500
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 18, 2021
Closed on
Apr 9, 2021
Sold by
Mendoza Rosal P and Mendoza Baltazar R
Bought by
Park Ann and Park Hubert
Seller's Agent
Don Kwan
Berkshire Hathaway HS NW
Buyer's Agent
Martin Ho
Berkshire Hathaway HS NW
List Price
$880,000
Sold Price
$945,000
Premium/Discount to List
$65,000
7.39%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.99%
Original Mortgage
$482,500
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 2, 2007
Sold by
Bergman Timothy L
Bought by
Mendoza Baltazar R and Mendoza Rosal P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$358,500
Interest Rate
3%

Purchase Details

Closed on
Apr 25, 2005
Sold by
Langdon Bonnie and Ortiz Bonnie
Bought by
Bergman Timothy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$336,000
Interest Rate
7%

Purchase Details

Closed on
Nov 22, 2004
Sold by
Langdon Bonnie and Ortiz Bonnie
Bought by
Bergman Timothy L

Purchase Details

Closed on
Dec 2, 2002
Sold by
Bartlett Judith M
Bought by
Ortiz Bonnie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$284,710
Interest Rate
7.99%

Purchase Details

Closed on
Apr 26, 1993
Sold by
Huggins Philip
Bought by
Bartlett Judith M
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Boopalan Saravanar -- Rainier Title
Wa Prop 10 Llc $1,101,350 First American Title
Park Ann $945,000 First American Title
Mendoza Baltazar R $478,000 Ticor National
Bergman Timothy L $169,046 Commonwealth L
Bergman Timothy L $169,046 Stewart Title
Ortiz Bonnie $355,888 Chicago Title
Bartlett Judith M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Wa Prop 10 Llc $1,122,500
Previous Owner Park Ann $482,500
Previous Owner Mendoza Baltazar R $358,500
Previous Owner Bergman Timothy L $336,000
Previous Owner Ortiz Bonnie $284,710
Closed Ortiz Bonnie $53,383
Closed Bergman Timothy L $42,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/15/2023 06/15/23 Sold $1,220,000 -4.2% $366 / Sq Ft
05/16/2023 05/16/23 Pending -- -- --
05/05/2023 05/05/23 For Sale $1,274,000 0.0% $383 / Sq Ft
04/28/2023 04/28/23 Pending -- -- --
04/18/2023 04/18/23 For Sale $1,274,000 0.0% $383 / Sq Ft
03/30/2023 03/30/23 Pending -- -- --
03/24/2023 03/24/23 For Sale $1,274,000 +15.7% $383 / Sq Ft
03/04/2022 03/04/22 Sold $1,101,350 +10.1% $335 / Sq Ft View Prior Sale
02/22/2022 02/22/22 Pending -- -- --
02/15/2022 02/15/22 For Sale $1,000,000 +5.8% $304 / Sq Ft
04/30/2021 04/30/21 Sold $945,000 +7.4% $282 / Sq Ft View Prior Sale
03/21/2021 03/21/21 Pending -- -- --
03/18/2021 03/18/21 For Sale $880,000 -- $263 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

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 $8,892 $881,000 $207,900 $673,100
2023 $10,330 $860,000 $195,300 $664,700
2022 $9,519 $934,000 $189,000 $745,000
2021 $8,930 $746,000 $189,000 $557,000
2020 $7,491 $671,000 $189,000 $482,000
2018 $6,240 $504,000 $135,000 $369,000
2017 $5,832 $425,000 $130,000 $295,000
2016 $6,032 $410,000 $130,000 $280,000
2015 $5,187 $409,000 $125,000 $284,000
2014 -- $368,000 $100,800 $267,200
2013 -- $342,000 $100,800 $241,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2039430

Northwest Multiple Listing Service (NWMLS)

APN: 346280-0240