Single-Level Duplex with
For Sale
$600,000
1315 K St NE, Auburn, WA 98002
Two occupied residences feature updated flooring, private garages, and in-unit laundry.
Property Size1,860 SF
Price / SF$322.58
Days on Market71
Property Features for 1315 K St NE
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
garages
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
Summit Properties NW LLC
Listed By:
Richard Butenko
(425) 451-3342
Source:
Theinspiregroup
Added: Aug 5
Changed: Oct 6
Last Checked: Oct 13 at 12:32AM
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 Summit Properties NW LLC
Investment Insights
Based on property information with market context.
The 1,860-square-foot duplex was built in 1976 and contains two single-level residences. Each unit offers 2 BR, 1 BA, updated flooring, a garage, and in-unit laundry. Property improvements include a new roof and fencing around each unit, while separate electrical meters serve the residences.
Located in Auburn near schools, transit, freeways, and amenities, the property is currently tenant occupied in both units. Garbage service is already billed separately, and the property information identifies potential for rent increases and utility bill-back covering water, sewer, and garbage. Tours are available inside only after mutual agreement, with no tenant disturbance requested.
Located in Auburn near schools, transit, freeways, and amenities, the property is currently tenant occupied in both units. Garbage service is already billed separately, and the property information identifies potential for rent increases and utility bill-back covering water, sewer, and garbage. Tours are available inside only after mutual agreement, with no tenant disturbance requested.
Key Highlights
- 1,860 SF duplex with two 2 BR, 1 BA units
- Both units are tenant occupied
- Single‑level layout with garages and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,372
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,440
$627.4K
Cap Rate 7%
$448,171
$448.2K
Cap Rate 9%
$348,578
$348.6K
Market Conditions
NOI Build-Up for 1,860 SF
Gross rent
$47.4K $25.50/SF
− Vacancy
−$2.6K −$1.41/SF
EGI
$44.8K $24.09/SF
− OpEx
−$13.4K −$7.23/SF
NOI
$31.4K $16.87/SF
Area
King County, WA
Vacancy
5.51%
Lease Rate
$25.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,440
Cap Rate 7%
$448,171
Cap Rate 9%
$348,578
Alternative Uses
Best Use
Multifamily LT 5
$448.2K
$392.2K – $522.9K
NOI $31,372 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$413.0K
$361.4K – $481.8K
NOI $28,910 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$745.0K
$651.9K – $869.1K
NOI $52,148 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 98002, WA
38,474
Population
15,279
Households
2.5
Avg Household Size
36
Median Age
18%
College-Educated
84%
High-School Grad
7.2 sq mi
ZIP Area
5,344
Density / Sq Mi
$77,714
Median Household Income
$44,616
Median Earnings
$1,613
Median Rent
$397,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences feature updated flooring, private garages, and in-unit laundry.
Where is this duplex located?
The property is located at 1315 K St NE Auburn, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,860 SF duplex with two 2 BR, 1 BA units; Both units are tenant occupied; Single‑level layout with garages and in‑unit laundry
