Apartment Building with In-Unit
For Sale
$2,125,000
108 Kensington, Kent, WA 98030
Apartment building offering one- and two-bedroom units, each with in-unit washer and dryer.
Property Size8,628 SF
Price / SF$246.29
Days on Market179
Property Features for 108 Kensington
General Information
Standard status
Active
Size
8,628 SF
Property subtype
Multi-family
Site & Location
Neighborhood
Mill Creek
Building Details
Year Built
1986
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Tanner Fogle
(253) 564-6211
Source:
Century21northhomes
Added: Apr 28
Changed: Oct 21
Last Checked: Oct 23 at 11:07AM
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 Paragon Real Estate Advisors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
108 Kensington S is an apartment building with a functional unit mix of one-bedroom and two-bedroom apartments. A key amenity is in-unit washer and dryer in every unit.
The property provides immediate access to State Routes 167 and 516, with connectivity to Interstate 5 and the greater Puget Sound region. Residents are also described as being near Kent Station, the Sounder Train Station, and the ShoWare Center, with additional nearby parks and recreational amenities.
For prospective tenants or buyers, the combination of in-unit laundry and a mix of one- and two-bedroom layouts supports everyday livability and flexibility within the property’s rental offerings.
The property provides immediate access to State Routes 167 and 516, with connectivity to Interstate 5 and the greater Puget Sound region. Residents are also described as being near Kent Station, the Sounder Train Station, and the ShoWare Center, with additional nearby parks and recreational amenities.
For prospective tenants or buyers, the combination of in-unit laundry and a mix of one- and two-bedroom layouts supports everyday livability and flexibility within the property’s rental offerings.
Key Highlights
- 1986‑built apartment building offering one- and two‑bedroom units
- In‑unit washer and dryer in every unit
- Functional unit mix includes one‑bedroom and two‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,535
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,990,700
$3.0M
Cap Rate 7%
$2,136,214
$2.1M
Cap Rate 9%
$1,661,500
$1.7M
Market Conditions
NOI Build-Up for 8,628 SF
Gross rent
$286.8K $33.24/SF
− Vacancy
−$14.9K −$1.73/SF
EGI
$271.9K $31.51/SF
− OpEx
−$122.3K −$14.18/SF
NOI
$149.5K $17.33/SF
Area
Kent, WA
Vacancy
5.20%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,990,700
Cap Rate 7%
$2,136,214
Cap Rate 9%
$1,661,500
Alternative Uses
Best Use
Apartment 5plus
$2.14M
$1.87M – $2.49M
NOI $149,535 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,333 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 98030, WA
38,933
Population
13,519
Households
2.9
Avg Household Size
35
Median Age
28%
College-Educated
86%
High-School Grad
7.2 sq mi
ZIP Area
5,407
Density / Sq Mi
$91,218
Median Household Income
$46,681
Median Earnings
$1,797
Median Rent
$540,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building offering one- and two-bedroom units, each with in-unit washer and dryer.
Where is this apartment building located?
The property is located at 108 Kensington Kent, WA.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: 1986‑built apartment building offering one- and two‑bedroom units; In‑unit washer and dryer in every unit; Functional unit mix includes one‑bedroom and two‑bedroom apartments
