824 Kincaid Avenue Unit #1-6, Sumner, WA 98390
- $995,000
- 3,280
- SqFt
Listing courtesy of Real Broker LLC. Selling Office: Better Properties Real Estate.
- Sold Price
- $995,000
- List Price
- $1,100,000
- Status
- SOLD
- MLS#
- 2423801
- Closing Date
- Feb 28, 2026
- Days on Market
- 122
- Style
- 55 - 5-9 Units
- Building Condition
- Average
- Finished SqFt
- 3,280
- Area Total SqFt
- 3280
- Annual Tax Ammount
- 8753
- Lot Size (sq ft)
- 7,200
- Sewer
- Sewer Connected
Property Description
Garden-style 6-unit apartment building in the heart of Downtown Sumner on a prominent corner lot. Mission-inspired arches and a welcoming courtyard highlight timeless charm alongside modern updates and strong investment fundamentals. Fully occupied with proven rental history, offered at a 6% cap rate, the property offers immediate cash flow with major improvements completed, including a new roof, fresh exterior paint, and new gas heaters. Interiors have been updated over the years. A rare opportunity to own a well-maintained historic multifamily in a walkable, high-demand location—offering stable income today and exceptional long-term redevelopment potential on a prime corner lot, with zoning allowing up to four stories of mixed-use.
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Additional Information
- List Date
- 2025-10-29 00:00:00
- Community
- Downtown Sumner
- Net Operating Income
- $66,041
- Gross Adjusted Income
- $93,786
- Gross Scheduled Income
- $95,700
- Total Monthly Income
- $7,975
- Insurance Expenses
- $2,200
- Water/Sewer/Garbage Expenses
- $6,300
- Gross Rent Multiplier
- 12
- Total Expenses
- $27,745
- Cap Rate
- 6
- Vacancy Rate
- 2
- Total Number of Units
- 6
- Unit Name
- 824
- Potential Terms
- Conventional
- Year Built
- 1929
- View
- Territorial
- Roof
- Composition
- Electric Expenses
- 750
- Other Expenses
- 9742
- Energy Source
- Electric, Natural Gas
- School District
- Sumner-Bonney Lake
- Total Monthly Income
- $7,975
- Gross Scheduled Income
- $95,700
- Vacancy Rate
- 2
- Gross Adjusted Income
- $93,786
- Tax Year
- 2025
- Insurance Expense
- $2,200
- W/S/G Expenses
- $6,300
- Total Expenses
- $27,745
- Net Operating Income
- $66,041
- Gross Rent Multiplier
- 12
- Cap Rate
- 6
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.