506 1St St SW | Auburn Auburn, WA 98001
Six-unit apartment building in downtown Auburn with redevelopment potential.
Property size:
18 SFProperty Features for 506 1St St SW | Auburn
General Information
- Size
- 18 SF
Source:
Lee-associates
Listing Agent: Chris Larsen
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Historic Auburn Apartment Building Investment
The Knickerbocker Mansion, originally built in 1906, has been reimagined as a six-unit apartment building. The property features a mix of studio and 1-bedroom units, ranging in size from 300 to 755 square feet. Situated in downtown Auburn, the property is located at the I-5/Highway 18 interchange and is steps away from the Auburn Train Station, which provides service to Seattle and Tacoma. Major employers such as Boeing, Starbucks, and Pepsi anchor Auburn’s economic landscape. The property includes 18,000 square feet of land, offering investors redevelopment opportunities and potential for multi-lot subdivision. Recent capital improvements include a fully replaced natural gas fired boiler and control system, a new water heater, new and replacement insulation, a preventative industrial sump pump, and a recently replaced roof. These improvements enhance operational efficiency and asset longevity. The property offers potential for increased future returns.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- King
- State
- Washington
- Longitude
- -122.2359276
- Latitude
- 47.3063925
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building in downtown Auburn with redevelopment potential.
Where is this apartment building located?
The property is located at 506 1St St SW | Auburn Auburn, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: - Strong financial upside through market rents and operational efficiencies.; - Prime location near I-5/Highway 18 interchange and Auburn Train Station with direct service to Seattle and Tacoma.; - Anchored by major employers like Boeing, Starbucks, and Pepsi, driving sustained rental demand.