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About the Listing 2016 - 147407
Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements—including new roofs, furnaces, and water heaters—eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374
Listing Highlights for 501 21st St SE
Interior Details
- Bedrooms: 2
- Bathrooms: 1 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Vinyl Plank,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: Paved,Sidewalk,Cable TV,Fenced-Partially,High Speed Internet,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 16
- Zoning: Multi-Family
- Roof: Composition
- Others: Brick,Wood
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $16,110
- Taxes w/Assessments: N/A
- Tax/Property ID: 1921059138
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
501 21st St SE Auburn, WA 98002
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