2701 S 257 Place, Kent, WA 98032
- $820,000
- 2,716
- SqFt
Listing courtesy of Keller Williams Seattle Metro. Selling Office: Keller Williams Greater Seattl.
- Sold Price
- $820,000
- List Price
- $825,000
- Status
- SOLD
- MLS#
- 2180810
- Closing Date
- Jan 29, 2024
- Days on Market
- 26
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,716
- Area Total SqFt
- 2716
- Annual Tax Ammount
- 7811
- Lot Size (sq ft)
- 7,410
- Sewer
- Sewer Connected
- Bank Owned
- Yes
Property Description
Solid, well-maintained fourplex. Three units have been freshly remodeled, newer roof (~5 years), brand new exterior paint, newer windows. Onsite coin op laundry and storage. Upper units have decks, and lower units have patios with fully fenced yards. Six parking spaces. Solid investment, or ideal for owner occupant looking for extra income. Plenty of upside potential in rents. One unit left intentionally vacant for showings/ owner occupant. 6.9% Cap Rate, 7.4% Market. High-demand rental conveniently located near shopping, restaurants, and public transit.
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Additional Information
- List Date
- 2024-01-03 00:00:00
- Community
- Kent
- Net Operating Income
- $56,506
- Gross Adjusted Income
- $70,567
- Gross Scheduled Income
- $71,280
- Total Monthly Income
- $6,040
- Insurance Expenses
- $950
- Water/Sewer/Garbage Expenses
- $4,000
- Gross Rent Multiplier
- 11
- Total Expenses
- $14,061
- Cap Rate
- 6.9
- Vacancy Rate
- 1
- Total Number of Units
- 4
- Unit Name
- 2701
- Potential Terms
- Cash Out, Conventional, FHA, VA Loan
- Year Built
- 1977
- Roof
- Composition
- Electric Expenses
- 300
- Other Expenses
- 1000
- Energy Source
- Electric
- School District
- Federal Way
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $6,040
- Gross Scheduled Income
- $71,280
- Vacancy Rate
- 1
- Gross Adjusted Income
- $70,567
- Tax Year
- 2023
- Insurance Expense
- $950
- W/S/G Expenses
- $4,000
- Total Expenses
- $14,061
- Net Operating Income
- $56,506
- Gross Rent Multiplier
- 11
- Cap Rate
- 6.9
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.