102 Summit Ave N, Kent, WA 98030

$2,099,999
7,176
SqFt

Listing courtesy of Kelly Right RE of Seattle LLC.

List Price
$2,099,999
Status
ACTIVE
MLS#
1603663
Days on Market
16
Style
56 - 10+ Units
Building Condition
['Average']
Finished SqFt
7,176
Lot Size (sq ft)
10,085

Property Description

For sale! Turnkey cash flowing apartment with updated interiors and electrical upgrades. Conveniently located on Canyon Dr a couple minutes from downtown Kent and situated 18 miles away from both Seattle and Downtown Tacoma, this 12-unit apartment building is easy to rent. Partially fenced lot, 12 units of under-story parking, 12 units of secure personal storage, and a secure coin-operated laundry room for additional income. The hard work is done; now enjoy the easy part: cash fl-o-o-o-w!

Additional Information

List Date
2020-05-20 00:00:00
Community
Scenic Hill
Property Type
MULT
Units
12
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1959
Total Parking
12
Exterior
Stone
Roof
Flat, Torch Down
Site Features
Cable TV, Fenced-Partially, High Speed Internet
School District
Kent
Elementary School
East Hill Elem
Middle School
Mill Creek Mid Sch
High School
Kent-Meridian High
Total Monthly Income
$14,685
Gross Scheduled Income
$176,220
Vacancy Rate
5
Gross Adjusted Income
$167,409
Annual Taxes
$17,541
Tax Year
2020
Insurance Expense
$8,848
W/S/G Expenses
$12,780
Total Expenses
$46,369
Net Operating Income
$121,040
Gross Rent Multiplier
11
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
600
Unit 1 Rent
$1,200
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
600
Unit 2 Rent
$1,200
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
600
Unit 3 Rent
$1,150
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
600
Unit 4 Rent
$1,300
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
600
Unit 5 Rent
$1,150
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
600
Unit 6 Rent
$1,200
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