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.

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
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