10839 SE 200th Street, Kent, WA 98031
- $1,700,000
Listing courtesy of Northmarq Commercial, LLC. Selling Office: Keller Williams Realty PS.
- Sold Price
- $1,700,000
- List Price
- $1,550,000
- Status
- SOLD
- MLS#
- 2247526
- Closing Date
- Jul 19, 2024
- Days on Market
- 10
- Style
- 55 - 5-9 Units
- Building Condition
- Remodeled
- Annual Tax Ammount
- 15998
- Lot Size (sq ft)
- 45,900
- Sewer
- Sewer Connected
- Bank Owned
- Yes
Property Description
Seller Financing available! Seller carry 25% down, 5% interest for 2 years. 10839 SE 200th St in Kent, WA showcases a collection of six two-bedroom units averaging 869 SF each. Recent enhancements include upgraded countertops, cabinetry, flooring, and lighting in select units. Every residence is furnished with essential appliances such as washer, dryer, microwave, and garbage disposal. Opportunities for further unit improvements exist, alongside potential supplementary revenue streams from utility bill backs and paid parking. Positioned as a stable investment prospect, this property offers investors the prospect of enhanced rental income through modest renovations and market rate leasing.
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Additional Information
- List Date
- 2024-07-09 00:00:00
- Community
- Panther Lake
- Net Operating Income
- $79,555
- Gross Adjusted Income
- $123,120
- Gross Scheduled Income
- $129,600
- Total Monthly Income
- $10,800
- Insurance Expenses
- $3,200
- Water/Sewer/Garbage Expenses
- $7,200
- Gross Rent Multiplier
- 11.96
- Total Expenses
- $43,565
- Cap Rate
- 5.13
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 10839
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Year Built
- 1978
- Roof
- Composition, Green (Living)
- Site Features
- Cable TV, High Speed Internet, Outbuildings, Patio, RV Parking
- Other Expenses
- 17167
- Energy Source
- Electric
- School District
- Kent
- Elementary School
- Glenridge Elem
- Middle School
- Meeker Jnr High
- High School
- Kentridge High
- Total Monthly Income
- $10,800
- Gross Scheduled Income
- $129,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $123,120
- Tax Year
- 2024
- Insurance Expense
- $3,200
- W/S/G Expenses
- $7,200
- Total Expenses
- $43,565
- Net Operating Income
- $79,555
- Gross Rent Multiplier
- 11.96
- Cap Rate
- 5.13
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.