412 Mill Avenue S, Renton, WA 98057
Courtesy of Westlake Associates, Inc.
- $1,550,000
- 5,196
- SqFt
- List Price
- $1,550,000
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 2566463
- Subtype
- Residential Income
- Style
- 55 - 5-9 Units
- Year Built
- 1966
- Living Area
- 5,196
- Lot Size
- 5,090
- Acres
- 0.12
- Subdivision
- Renton
- Neighborhood
- Renton
- MLS Area Major
- Renton/Benson Hill
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.
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Additional Information
- Amenities
- Coin Op Laundry, Storage
- Exterior Features
- Brick, Wood
- Property Description
- 55 - 5-9 Units
- Flooring
- Ceramic Tile, Vinyl Plank
- Heating
- Baseboard
- Air Conditioning
- None
- Roof
- Flat
- School District
- Renton
- View
- Partial, Territorial
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