317 E Titus Street, Kent, WA 98030

$880,000
3,216
SqFt

Listing courtesy of Coldwell Banker Danforth. Selling Office: The Remlinger Group.

Sold Price
$880,000
List Price
$998,000
Status
SOLD
MLS#
2070233
Closing Date
Sep 14, 2023
Days on Market
60
Style
54 - 4-Plex
Finished SqFt
3,216
Area Total SqFt
3216
Annual Tax Ammount
10062
Lot Size (sq ft)
14,400
Sewer
Sewer Connected

Property Description

Attention investors. Fully occupied, downtown Kent 4-Plex just off Central Ave. 5-minute walk to the Sounder Light Rail, the restaurants & shops at Kent Station & entertainment at Showare Center. This 14,400 square foot lot has a mixed-use zoning, Downtown Commercial Enterprise, which allows for a variety of uses. Half of the lot is also empty, which allows for future development. A great investment now w/ huge upside potential in the land. 3 units are 2 bedrooms, & 1 unit is a one bedroom. Each has a garage & an additional storage locker. Coin operated laundry on site. Low maintenance landscaping. Easy access to Highway-167. Rents below market rates. Tenants are month to month for your flexibility. No signage. Please do not disturb Tenants

Additional Information

List Date
2023-07-16 00:00:00
Community
Downtown Kent
Net Operating Income
$33,801
Gross Adjusted Income
$49,800
Gross Scheduled Income
$49,800
Total Monthly Income
$4,150
Insurance Expenses
$2,042
Water/Sewer/Garbage Expenses
$3,895
Gross Rent Multiplier
20.04
Total Expenses
$15,999
Cap Rate
3.3
Total Number of Units
4
Unit Name
317
Potential Terms
Cash Out, Conventional
Year Built
1957
View
City, Territorial
Roof
Composition
Site Features
Gas Available, RV Parking
Energy Source
Electric, Natural Gas
School District
Kent
Total Monthly Income
$4,150
Gross Scheduled Income
$49,800
Gross Adjusted Income
$49,800
Tax Year
2023
Insurance Expense
$2,042
W/S/G Expenses
$3,895
Total Expenses
$15,999
Net Operating Income
$33,801
Gross Rent Multiplier
20.04
Cap Rate
3.3
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