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Listed by:Westlake Associates, Inc. • David W Petersen
$1,550,000
Est. payment /mo
8 Beds
8 Baths
5,196 SqFt
New
412 Mill AVE S Renton, WA 98057
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,196 sqft
Price per Sqft $298
Subdivision Renton
MLS Listing ID 2566463
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1966
Annual Tax Amount $17,505
Lot Size 5,090 Sqft
Property Sub-Type Multi Family
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.
Location
State WA
County King
Area 340 - Renton/Benson Hill
Interior
Flooring Ceramic Tile, Vinyl Plank
Fireplace false
Exterior
Exterior Feature Brick, Wood
Amenities Available Fenced-Partially
View Y/N Yes
View Partial, Territorial
Roof Type Flat
Building
Lot Description Alley, Curbs, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Renton
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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