323 1st Avenue S, Kent, WA 98032
- $885,000
- 2,209
- SqFt
Listing courtesy of Berkshire Hathaway HS NW. Selling Office: Berkshire Hathaway HS NW.
- Sold Price
- $885,000
- List Price
- $900,000
- Status
- SOLD
- MLS#
- 2431992
- Closing Date
- Apr 01, 2026
- Days on Market
- 158
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,209
- Area Total SqFt
- 2209
- Annual Tax Ammount
- 6700
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 7,680
- Sewer
- Sewer Connected
Property Description
Live or Invest in Downtown Kent — Updated 4-plex. Discover a rare opportunity to own a historic Victorian 4-plex in downtown Kent, just blocks from Kent Station’s restaurants, shops, transit, and commuter access. With highly flexible Downtown Commercial Enterprise (DCE) zoning, the property offers outstanding potential for expansion or redevelopment. Recent updates include a new sewer line, fresh exterior paint, and a new roof with gutters. Each unit offers 1 bed/1 bath with gas heat and stove, plus separately metered utilities for tenant-paid efficiency. 3 units are recently remodeled, and one unit is ready for new possibilities—perfect for an owner-occupant or an investor seeking immediate value-add potential.
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Additional Information
- List Date
- 2025-10-25 00:00:00
- Community
- Downtown Kent
- Net Operating Income
- $58,400
- Gross Adjusted Income
- $68,100
- Gross Scheduled Income
- $68,100
- Total Monthly Income
- $5,675
- Insurance Expenses
- $3,000
- Gross Rent Multiplier
- 13.22
- Total Expenses
- $9,700
- Cap Rate
- 6.49
- Total Number of Units
- 4
- Unit Name
- 323
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1901
- Roof
- Composition
- Site Features
- Deck, Fenced-Partially
- Energy Source
- Electric, Natural Gas
- School District
- Kent
- Elementary School
- Kent Elem
- Middle School
- Mill Creek Mid Sch
- High School
- Kent-Meridian High
- Total Monthly Income
- $5,675
- Gross Scheduled Income
- $68,100
- Gross Adjusted Income
- $68,100
- Tax Year
- 2025
- Insurance Expense
- $3,000
- Total Expenses
- $9,700
- Net Operating Income
- $58,400
- Gross Rent Multiplier
- 13.22
- Cap Rate
- 6.49
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.