6-Unit Apartment Building with
For Sale
$1,199,950
1613 Maple Unit D1-D6, Kent, WA 98030
Six two-bedroom residences include in-unit laundry, utility rooms, parking, and updated interior finishes.
Property Size5,580 SF
Price / SF$215.04
Days on Market137
Property Features for 1613 Maple Unit D1-D6
General Information
Standard status
Active
Size
5,580 SF
Property subtype
Multi-family
Building Details
Year Built
1979
Listing Agency:
KW Lake Washington So
Listed By:
Daniel Sebryakov
(253) 520-3780
Source:
Skylineproperties
Added: Apr 18
Changed: Aug 30
Last Checked: Aug 31 at 7:55PM
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 KW Lake Washington So
Investment Insights
Based on property information with market context.
This 6-unit apartment building contains six approximately 930-square-foot residences, each configured with 2 bedrooms and 1 bath. Units include fireplaces, in-unit washers and dryers, utility rooms, parking, updated flooring, paint, appliances, and other interior improvements. The property was built in 1979 and has received extensive capital work, including newer roofing, siding, windows, doors, gutters, balconies, electrical panels, crawlspace insulation, moisture barriers, seismic reinforcement, roadway resurfacing, and concrete replacement.
Each residence carries its own parcel number, offering flexibility for future individual sales or other disposition strategies. HOA dues cover management, water, sewer, garbage, exterior maintenance, common-area upkeep, and ongoing property care. The property is near Kent Station, Sounder Rail, shopping, dining, major employers, Hwy 167, and I-5.
Each residence carries its own parcel number, offering flexibility for future individual sales or other disposition strategies. HOA dues cover management, water, sewer, garbage, exterior maintenance, common-area upkeep, and ongoing property care. The property is near Kent Station, Sounder Rail, shopping, dining, major employers, Hwy 167, and I-5.
Key Highlights
- 6‑unit apartment building with six approximately 930 SF residences
- Each unit offers 2 bedrooms, 1 bath, a fireplace, and in‑unit washer and dryer
- Major improvements include roofs, siding, windows, doors, gutters, balconies, and electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$96,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,934,180
$1.9M
Cap Rate 7%
$1,381,557
$1.4M
Cap Rate 9%
$1,074,544
$1.1M
Market Conditions
NOI Build-Up for 5,580 SF
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.
Gross rent
$185.5K $33.24/SF
− Vacancy
−$9.6K −$1.73/SF
EGI
$175.8K $31.51/SF
− OpEx
−$79.1K −$14.18/SF
NOI
$96.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,934,180
Cap Rate 7%
$1,381,557
Cap Rate 9%
$1,074,544
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,709 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,377 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
581
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six two-bedroom residences include in-unit laundry, utility rooms, parking, and updated interior finishes.
Where is this apartment building located?
The property is located at 1613 Maple Unit D1-D6 Kent, WA.
What is the asking price?
The asking price for this property is $1,199,950.
What are key features of this property?
This property features: 6‑unit apartment building with six approximately 930 SF residences; Each unit offers 2 bedrooms, 1 bath, a fireplace, and in‑unit washer and dryer; Major improvements include roofs, siding, windows, doors, gutters, balconies, and electrical panels
