324 6th Avenue S, Kirkland, WA 98033
- $2,588,000
- 3,850
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $2,588,000
- Status
- ACTIVE
- MLS#
- 2570088
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 3,850
- Area Total SqFt
- 3850
- Annual Tax Ammount
- 15635
- Lot Size (sq ft)
- 10,000
- Sewer
- Available
Property Description
This well-maintained five-unit apartment building presents a rare investment opportunity in Kirkland, where limited housing supply and strong rental demand support long-term value growth. Built in 1962 on a 10,000-square-foot PLA 6E-zoned lot, the property includes four renovated two-bedroom, one-bathroom units (850 SF each) and one fully renovated 450 SF studio. Over the past decade, units have been upgraded with LVP flooring, modern cabinetry, updated countertops, and renovated bathrooms, helping sustain strong tenant demand. The four two-bedroom units feature private balconies and in-unit washers and dryers, while the studio has a dedicated washer and dryer nearby. Each unit also includes a storage locker, currently provided at no charge, creating potential for additional income. Four covered parking spaces are likewise offered free to tenants, presenting further revenue upside. The property currently generates $11,875 per month in gross rental income and offers strong in-place cash flow with long-term stability. Located in Kirkland’s desirable Moss Bay neighborhood, it is within walking distance of Google’s Kirkland campuses, downtown Kirkland, Marina Park, restaurants, and shops. Nearby access to the Cross Kirkland Corridor and I-405 enhances connectivity to Bellevue and Seattle, supporting continued tenant demand and future rental growth.
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Additional Information
- List Date
- 2026-08-18 21:28:12
- Community
- Moss Bay
- Net Operating Income
- $100,254
- Gross Adjusted Income
- $135,375
- Gross Scheduled Income
- $142,500
- Total Monthly Income
- $11,875
- Insurance Expenses
- $4,350
- Water/Sewer/Garbage Expenses
- $5,267
- Gross Rent Multiplier
- 18.16
- Total Expenses
- $35,121
- Cap Rate
- 3.87
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 324
- Potential Terms
- Cash, Conventional
- Year Built
- 1962
- Roof
- Composition
- Other Expenses
- 9869
- Energy Source
- Electric
- School District
- Lake Washington
- Total Monthly Income
- $11,875
- Gross Scheduled Income
- $142,500
- Vacancy Rate
- 5
- Gross Adjusted Income
- $135,375
- Tax Year
- 2026
- Insurance Expense
- $4,350
- W/S/G Expenses
- $5,267
- Total Expenses
- $35,121
- Net Operating Income
- $100,254
- Gross Rent Multiplier
- 18.16
- Cap Rate
- 3.87
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