534 Smithers Avenue S, Renton, WA 98057

$985,000
2,739
SqFt

Listing courtesy of Weichert, Realtors-Pillar NW.

List Price
$985,000
Status
ACTIVE
MLS#
2236757
Days on Market
7
Style
54 - 4-Plex
Finished SqFt
2,739
Area Total SqFt
2739
Annual Tax Ammount
9953.53
Lot Size (sq ft)
4,800
Sewer
Sewer Connected

Property Description

Rare 4-plex available in Renton. Great location-great tenants. Close to freeways/shopping/restaurants/etc. Lots of work done over the last few years incl new roof in 2021, exterior repairs & full ext paint in 2023, remodel of unit A in 2023/24 (drove vacancy). Recent improvements (& vacancy) skewing NOI/Cap Rate/etc. Long-term tenants in B, C & D (below market rents). Expect long-term for new tenant in A. B & C in good condition. D needs a lot of work, but current tenant content as-is for lower rent (also maintains lawn). Keep as is or bring your ideas. B available for showings w/2-hr min notice - other 3 units shown upon mutual. No sign. Please do not disturb tenants. Note: Sale in 2022 was for 53% ownership, not for the whole property.

Additional Information

List Date
2024-05-13 16:48:11
Community
Renton
Net Operating Income
$8,908
Gross Adjusted Income
$44,430
Gross Scheduled Income
$49,080
Total Monthly Income
$4,465
Insurance Expenses
$4,383
Water/Sewer/Garbage Expenses
$2,944
Gross Rent Multiplier
20.07
Total Expenses
$35,905
Cap Rate
0.9
Vacancy Rate
8
Total Number of Units
4
Unit Name
534
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
1951
Roof
Composition
Other Expenses
18624
Energy Source
Electric
School District
Renton
Total Monthly Income
$4,465
Gross Scheduled Income
$49,080
Vacancy Rate
8
Gross Adjusted Income
$44,430
Tax Year
2023
Insurance Expense
$4,383
W/S/G Expenses
$2,944
Total Expenses
$35,905
Net Operating Income
$8,908
Gross Rent Multiplier
20.07
Cap Rate
0.9
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