1609 Maple Lane Unit #C1-C8, Kent, WA 98030
Courtesy of Windermere Real Estate JS
- $1,599,990
- 7,440
- SqFt
- List Price
- $1,599,990
- Status
- ACTIVE
- Days on Market
- 2
- MLS#
- 2559752
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1979
- Living Area
- 7,440
- Lot Size
- 121,491
- Acres
- 2.79
- Subdivision
- Green River
- Neighborhood
- Green River
- MLS Area Major
- Kent
Property Description
Exceptional opportunity to acquire a well-maintained 8-unit multifamily property in the heart of Kent. This turnkey investment offers immediate cash flow, consistently low vacancy, and substantial upside through future rent growth. There are multiple exit strategies as each condo is individually parceled off with recent sales as high as $260k in the community. Each spacious 2-bedroom, 1-bath unit features approximately 930 SF, a fireplace, in-unit washer and dryer, reserved parking, and an efficient floor plan that continues to attract long-term tenants. Many tenants are long-term with lower than market rents with the potential to achieve $2,100+ per month as leases renew and units are refreshed. Pro-forma shows this as an 8% cap rate. Possibility for even higher rents as mid-term rentals. HOA dues cover professional management, water, sewer, garbage, exterior building maintenance, and landscaping. Creating a low-maintenance ownership experience. Recent improvements include newer roofs, brand-new siding, windows, doors, gutters, balconies, electrical panels, crawlspace insulation, moisture barriers, seismic retrofitting, road resurfacing, and concrete replacement. A rare opportunity to acquire a stable, income-producing 8-unit asset with long-term appreciation and value-add potential in one of South King County's strongest rental markets. Extremely convenient location to highways, public transportation, and shopping.
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Additional Information
- Amenities
- See Remarks
- Exterior Features
- Wood Products
- Property Description
- 55 - 5-9 Units
- Flooring
- Laminate
- Heating
- Wall Furnace
- Air Conditioning
- Window Unit(s)
- Roof
- Composition
- School District
- Kent
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- View
- Territorial
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