20603 -20611 108th Avenue SE, Kent, WA 98031
- $4,550,000
- 21,340
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $4,550,000
- List Price
- $4,795,000
- Status
- SOLD
- MLS#
- 2354781
- Closing Date
- Jun 18, 2025
- Days on Market
- 13
- Style
- 56 - 10+ Units
- Finished SqFt
- 21,340
- Area Total SqFt
- 21340
- Annual Tax Ammount
- 57121
- Lot Size (sq ft)
- 54,450
- Sewer
- Sewer Connected
Property Description
The property features 22 nearly identical 2 bed/1.5 bath townhouse style units with full appliance packages that include a full size washer and dryer, dishwasher, and refrigerator. There are 5 buildings on one parcel and all 5 of the roofs were replaced in February of 2025. There are 44 parking spots in total with 37 carport spaces. The property presents immediate operational upside due to expense load of nearly 50% of EGI. Four of the units have been renovated with LVP floor, quartz countertops, kitchen cabinets, and bathroom vanities leaving a renovation value-add opportunity with the remaining 18 units.
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Additional Information
- List Date
- 2025-06-05 00:00:00
- Community
- Kent
- Net Operating Income
- $252,583
- Gross Adjusted Income
- $472,834
- Gross Scheduled Income
- $497,720
- Total Monthly Income
- $41,477
- Insurance Expenses
- $22,000
- Water/Sewer/Garbage Expenses
- $54,306
- Gross Rent Multiplier
- 9.63
- Total Expenses
- $220,251
- Cap Rate
- 5.27
- Vacancy Rate
- 5
- Total Number of Units
- 22
- Unit Name
- 20603 -20611
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1977
- Roof
- Composition
- Other Expenses
- 86824
- Energy Source
- Electric
- School District
- Kent
- Total Monthly Income
- $41,477
- Gross Scheduled Income
- $497,720
- Vacancy Rate
- 5
- Gross Adjusted Income
- $472,834
- Tax Year
- 2024
- Insurance Expense
- $22,000
- W/S/G Expenses
- $54,306
- Total Expenses
- $220,251
- Net Operating Income
- $252,583
- Gross Rent Multiplier
- 9.63
- Cap Rate
- 5.27
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.