323 1st Avenue S, Kent, WA 98032

$750,000
2,468
SqFt

Listing courtesy of John L. Scott, Inc.

List Price
$750,000
Status
PENDING INSPECTION
MLS#
2235744
Days on Market
64
Style
54 - 4-Plex
Finished SqFt
2,468
Area Total SqFt
2468
Annual Tax Ammount
6932
Lot Size (sq ft)
7,680
Sewer
Sewer Connected

Property Description

Historic fourplex with original Victorian details in the heart of downtown only a few blocks from all of Kent Station's shops, restaurants, transit options & commuter routes. Downtown Commercial Enterprise (DCE) zoning provides some of the least restrictive development possibilities for building additional structures or repurposing the site (buyer to verify). New sewer line, exterior paint, roof & gutters in 2023. All units are 1 bed, 1 bath with gas heat & stove. Water, sewer, electricity & gas are individually metered & paid by the tenants. Garbage/yard waste paid by owner & is approx $130/mo. Currently fully occupied with one unit coming vacant June 1st - Perfect opportunity for an owner occupied purchase or future increase in rent.

Additional Information

List Date
2024-03-16 19:02:10
Community
Downtown Kent
Net Operating Income
$42,288
Gross Adjusted Income
$55,800
Gross Scheduled Income
$55,800
Total Monthly Income
$4,650
Insurance Expenses
$1,352
Water/Sewer/Garbage Expenses
$3,883
Gross Rent Multiplier
14
Total Expenses
$13,512
Cap Rate
5
Total Number of Units
4
Unit Name
323
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
1901
Roof
Composition
Electric Expenses
145
Other Expenses
1200
Energy Source
Natural Gas
School District
Kent
Elementary School
Kent Elem
Middle School
Mill Creek Mid Sch
High School
Kent-Meridian High
Total Monthly Income
$4,650
Gross Scheduled Income
$55,800
Gross Adjusted Income
$55,800
Tax Year
2023
Insurance Expense
$1,352
W/S/G Expenses
$3,883
Total Expenses
$13,512
Net Operating Income
$42,288
Gross Rent Multiplier
14
Cap Rate
5
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