729 1st Avenue S, Kent, WA 98032
- $1,150,000
- 3,992
- SqFt
Listing courtesy of Global Real Estate Group. Selling Office: Professional Realty Services.
- Sold Price
- $1,150,000
- List Price
- $1,249,000
- Status
- SOLD
- MLS#
- 2039401
- Closing Date
- Aug 15, 2023
- Days on Market
- 52
- Style
- 54 - 4-Plex
- Building Condition
- Very Good
- Finished SqFt
- 3,992
- Area Total SqFt
- 3992
- Annual Tax Ammount
- 10400
- Internet Provider
- Comcast
- Lot Size (sq ft)
- 9,329
- Sewer
- Sewer Connected
Property Description
Huge cash flowing property!! ZERO owner utility expense, tenants pay all utilities. Maintained meticulously; hard to find Townhome style units w/ convenient half bath on main floor. Spacious units feel & rent like 3 bdrms due to an original partition wall in all units (closet & egress included). Always rent fast & stay rented! Each unit with its own patio & fully fenced private yard. Prime location in Kent! One of the largest industrial corridors in the nation is just two minutes away. A job hub that provides over 100,000 jobs to local residents! Rental income exceeds $110k at market rents. Room for future improvement with a permit for a 3rd bdrm. Turn key, cash flowing asset. (May be purchased with adjacent building MLS: 2039429)
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Additional Information
- List Date
- 2023-06-24 00:00:00
- Community
- Kent
- Net Operating Income
- $81,223
- Gross Adjusted Income
- $93,552
- Gross Scheduled Income
- $93,552
- Total Monthly Income
- $7,796
- Insurance Expenses
- $1,929
- Gross Rent Multiplier
- 13.35
- Total Expenses
- $12,329
- Cap Rate
- 6.5
- Total Number of Units
- 4
- Unit Name
- 729
- Potential Terms
- Cash Out, Conventional, FHA, Rehab Loan, VA Loan
- Year Built
- 1979
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Fully, Gated Entry, High Speed Internet, Patio
- Energy Source
- Electric
- School District
- Kent
- Total Monthly Income
- $7,796
- Gross Scheduled Income
- $93,552
- Gross Adjusted Income
- $93,552
- Tax Year
- 2022
- Insurance Expense
- $1,929
- Total Expenses
- $12,329
- Net Operating Income
- $81,223
- Gross Rent Multiplier
- 13.35
- Cap Rate
- 6.5
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.