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(253) 209-4200
Real Estate Company
31624 W Rutherford Street, Carnation, WA 98014
- $1,234,900
- 3,936
- SqFt
Listing Broker: Real Broker LLC; Charles Burnett; 206-931-6036; charles@soundrealtygroup.com
- List Price
- $1,234,900
- Status
- ACTIVE
- MLS#
- 2600805
- Style
- 55 - 5-9 Units
- Building Condition
- Average
- Finished SqFt
- 3,936
- Area Total SqFt
- 3936
- Annual Tax Ammount
- 9192
- Lot Size (sq ft)
- 15,152
- Sewer
- Sewer Connected
Property Description
Rare six-unit apartment building in downtown Carnation with owner financing available! Solid, turnkey investment opportunity offered at approximately a 6% cap rate. Situated on a 15,152 SF corner lot with R-24 zoning and potential for future expansion or redevelopment (buyer to verify). Unit mix includes (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility. Current rents well below market, offering significant upside in income and value. Additional current income from common laundry, plus tenant utility reimbursements. Improvements include newer windows, recently replaced upper decks, and a roof with substantial remaining life. Ample parking and convenient access to Redmond, Bellevue, and Microsoft.
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Additional Information
- Community
- Carnation
- Net Operating Income
- $73,661
- Gross Adjusted Income
- $110,543
- Gross Scheduled Income
- $11,660
- Total Monthly Income
- $9,158
- Insurance Expenses
- $2,850
- Water/Sewer/Garbage Expenses
- $20,300
- Gross Rent Multiplier
- 11
- Total Expenses
- $36,882
- Cap Rate
- 6
- Vacancy Rate
- 1
- Total Number of Units
- 6
- Unit Name
- 31624
- Potential Terms
- Conventional, Owner Will Carry
- Year Built
- 1964
- View
- Territorial
- Roof
- Torch Down
- Electric Expenses
- 540
- Other Expenses
- 4000
- Energy Source
- Electric
- School District
- Riverview
- Total Monthly Income
- $9,158
- Gross Scheduled Income
- $11,660
- Vacancy Rate
- 1
- Gross Adjusted Income
- $110,543
- Tax Year
- 2026
- Insurance Expense
- $2,850
- W/S/G Expenses
- $20,300
- Total Expenses
- $36,882
- Net Operating Income
- $73,661
- Gross Rent Multiplier
- 11
- 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.