Townhome-Style Triplex in Meadow Brooke
1019 18th St NE, Auburn, WA 98002
Well-maintained triplex with strong tenancy in a desirable location.
Type:Multifamily
Property size:
3,560 SFPrice / SF:
$266/SF- Added:
- Mar 6, 2026
- Days on Market:
- 71
- Last Refresh:
- Apr 5 at 9:44 pm
Property Features for 1019 18th St NE
General Information
- Standard status
- Active
- Size
- 3,560 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1989
Listing agent Nisha A Tomar (253) 238-2843
Listing office LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES (253) 238-2843
Listing date Mar 6, 2026
Source Lee-associates
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of LEE & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
HighLights
- Turnkey triplex investment with immediate, stable cash flow due to 100% occupancy and historically low vacancy.
- Prime location in the desirable Meadow Brooke Estates, within walking distance of North Auburn's schools, restaurants, and shopping, and minutes from downtown Auburn, major highways, and Green River College.
- Major capital improvements (roof, windows, and siding) have been recently replaced, ensuring low maintenance.
- Each unit features 2 bedrooms + den, 1.5 baths, in‑unit laundry, and an attached garage.
- Zoned R‑10, allowing for various residential uses, including potential short‑term rental opportunities (subject to City of Auburn regulations).
- Strong investment with a 5.75% cap rate.
Overview
This townhome-style triplex is located in the Meadow Brooke Estates neighborhood of Auburn, Washington, within walking distance of schools, restaurants, and shopping. The property consists of three units, each offering approximately 1,187 square feet of living space. Each unit includes 2 bedrooms, a den, and 1.5 bathrooms, as well as in-unit laundry, an attached garage, and additional driveway parking. Residents have access to a shared yard area. Constructed in 1989, the 3,560 square foot building has had major capital improvements, including replacement of the roof, windows, and siding. The property is zoned R-10, allowing for a variety of residential uses, including short-term rentals, subject to City of Auburn regulations. All three units are currently leased, providing immediate cash flow. The property is located minutes from downtown Auburn, major highways, and Green River College. The Auburn SuperMall, Flaming Geyser State Park, and the White River are nearby. The White River Valley Museum and Green River College's performing arts center are also located in the vicinity.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$667.2K
NOI $60,045 @ 9.00% cap · cautious / downside scenario
Moderate
$857.8K
NOI $60,045 @ 7.00% cap · market / base-case scenario
Aggressive
$1.20M
NOI $60,045 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.8k | $25.50 |
| − Vacancy | −$5.0k | −$1.41 |
| EGI | $85.8k | $24.09 |
| − OpEx | −$25.7k | −$7.23 |
| NOI | $60.0k | $16.87 |
3,560 SF · lease $25.50/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$857.8K
$750.6K – $1.00M
NOI $60,045 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$790.5K
$691.7K – $922.2K
NOI $55,333 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,811 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- King
- State
- Washington
- Longitude
- -122.217
- Latitude
- 47.3244
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained triplex with strong tenancy in a desirable location.
Where is this triplex located?
The property is located at 1019 18th St NE Auburn, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Turnkey triplex investment with immediate, stable cash flow due to 100% occupancy and historically low vacancy.; Prime location in the desirable Meadow Brooke Estates, within walking distance of North Auburn's schools, restaurants, and shopping, and minutes from downtown Auburn, major highways, and Green River College.; Major capital improvements (roof, windows, and siding) have been recently replaced, ensuring low maintenance.
