Four-Unit Quadplex with
For Sale
$900,000
2250 I St NE, Auburn, WA 98002
Fully rented quadplex with assigned parking and a community coin-operated laundry room.
Property Size3,000 SF
Price / SF$300
Days on Market88
Property Features for 2250 I St NE
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
assigned parking
community coin-operated laundry room
Building Details
Year Built
1978
Listing Agency:
RE/MAX Elite
Listed By:
Zach Hensrude
(425) 245-7179
Source:
Larissabutlerrealty
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 7 at 3:07PM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
This 3,000-square-foot quadplex contains four residential units, each configured with two bedrooms, one bathroom, and 750 square feet. The property is fully rented and includes assigned parking for residents. A shared coin-operated laundry room serves the building and provides an additional on-site amenity.
Built in 1978, the property is located at 2250 I St NE in Auburn, Washington. Shopping, dining, and local events are situated nearby, providing convenient access to everyday services and activities. The four-unit configuration offers a straightforward residential income property format with consistent unit layouts throughout.
Built in 1978, the property is located at 2250 I St NE in Auburn, Washington. Shopping, dining, and local events are situated nearby, providing convenient access to everyday services and activities. The four-unit configuration offers a straightforward residential income property format with consistent unit layouts throughout.
Key Highlights
- Four‑unit quadplex with 3,000 square feet
- Each unit has 2 bedrooms, 1 bathroom, and 750 sqft
- Fully rented residential income property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,599
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,980
$1.0M
Cap Rate 7%
$722,843
$722.8K
Cap Rate 9%
$562,211
$562.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$76.5K $25.50/SF
− Vacancy
−$4.2K −$1.41/SF
EGI
$72.3K $24.09/SF
− OpEx
−$21.7K −$7.23/SF
NOI
$50.6K $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%
$1,011,980
Cap Rate 7%
$722,843
Cap Rate 9%
$562,211
Alternative Uses
Best Use
Multifamily LT 5
$722.8K
$632.5K – $843.3K
NOI $50,599 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$666.1K
$582.9K – $777.2K
NOI $46,629 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,110 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
722
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?
Quadplex - Fully rented quadplex with assigned parking and a community coin-operated laundry room.
Where is this quadplex located?
The property is located at 2250 I St NE Auburn, WA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,000 square feet; Each unit has 2 bedrooms, 1 bathroom, and 750 sqft; Fully rented residential income property
