412 Mill Avenue S, Renton, WA 98057
- $1,550,000
- 5,196
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $1,550,000
- Status
- ACTIVE
- MLS#
- 2566463
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,196
- Area Total SqFt
- 5196
- Annual Tax Ammount
- 17505
- Lot Size (sq ft)
- 5,090
- Sewer
- Sewer Connected
Property Description
Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.
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Additional Information
- List Date
- 2026-08-07 21:25:15
- Community
- Renton
- Net Operating Income
- $82,133
- Gross Adjusted Income
- $137,666
- Gross Scheduled Income
- $144,912
- Total Monthly Income
- $12,076
- Insurance Expenses
- $9,321
- Water/Sewer/Garbage Expenses
- $12,067
- Gross Rent Multiplier
- 10.7
- Total Expenses
- $55,533
- Cap Rate
- 5.3
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 412
- Potential Terms
- Cash, Conventional
- Year Built
- 1966
- View
- Partial, Territorial
- Roof
- Flat
- Site Features
- Fenced-Partially
- Other Expenses
- 16640
- Energy Source
- Electric
- School District
- Renton
- Total Monthly Income
- $12,076
- Gross Scheduled Income
- $144,912
- Vacancy Rate
- 5
- Gross Adjusted Income
- $137,666
- Tax Year
- 2026
- Insurance Expense
- $9,321
- W/S/G Expenses
- $12,067
- Total Expenses
- $55,533
- Net Operating Income
- $82,133
- Gross Rent Multiplier
- 10.7
- Cap Rate
- 5.3
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.