1609 Maple Lane Unit #C1-C8, Kent, WA 98030
- $1,599,990
- 7,440
- SqFt
Listing courtesy of Windermere Real Estate JS.
- List Price
- $1,599,990
- Status
- ACTIVE
- MLS#
- 2559752
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Finished SqFt
- 7,440
- Area Total SqFt
- 7440
- Annual Tax Ammount
- 19912
- Lot Size (sq ft)
- 121,491
- Sewer
- Sewer Connected
Property Description
Exceptional opportunity to acquire a well-maintained 8-unit multifamily property in the heart of Kent. This turnkey investment offers immediate cash flow, consistently low vacancy, and substantial upside through future rent growth. There are multiple exit strategies as each condo is individually parceled off with recent sales as high as $260k in the community. Each spacious 2-bedroom, 1-bath unit features approximately 930 SF, a fireplace, in-unit washer and dryer, reserved parking, and an efficient floor plan that continues to attract long-term tenants. Many tenants are long-term with lower than market rents with the potential to achieve $2,100+ per month as leases renew and units are refreshed. Pro-forma shows this as an 8% cap rate. Possibility for even higher rents as mid-term rentals. HOA dues cover professional management, water, sewer, garbage, exterior building maintenance, and landscaping. Creating a low-maintenance ownership experience. Recent improvements include newer roofs, brand-new siding, windows, doors, gutters, balconies, electrical panels, crawlspace insulation, moisture barriers, seismic retrofitting, road resurfacing, and concrete replacement. A rare opportunity to acquire a stable, income-producing 8-unit asset with long-term appreciation and value-add potential in one of South King County's strongest rental markets. Extremely convenient location to highways, public transportation, and shopping.
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Additional Information
- List Date
- 2026-07-30 19:41:16
- Community
- Green River
- Net Operating Income
- $127,900
- Gross Adjusted Income
- $191,520
- Gross Scheduled Income
- $201,600
- Total Monthly Income
- $11,675
- Insurance Expenses
- $3,072
- Gross Rent Multiplier
- 7.94
- Total Expenses
- $63,620
- Cap Rate
- 8
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 1609
- Potential Terms
- Cash, Conventional
- Year Built
- 1979
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Patio
- Other Expenses
- 40636
- Energy Source
- Electric, Wood
- School District
- Kent
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $11,675
- Gross Scheduled Income
- $201,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $191,520
- Tax Year
- 2026
- Insurance Expense
- $3,072
- Total Expenses
- $63,620
- Net Operating Income
- $127,900
- Gross Rent Multiplier
- 7.94
- Cap Rate
- 8
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.