Well-Maintained 4-Plex with
903 31ST Auburn, WA 98002
For Sale
$1,000,000
Fully occupied 4-plex with townhome-style layouts, each unit featuring 2 bed/1 bath and a 1-car garage.
Property Size3,806 SF
Price / SF$262.74
Days on Market38
Property Features for 903 31ST
General Information
Standard status
Active
Size
3,806 SF
Property subtype
Multi-family
Building Details
Year Built
1984
Listing Agency:
Skyline Properties, Inc.
(206) 550-4573
Listed By:
Eric Johnson
(206) 550-4573
Source:
Skylineproperties
Added: Jun 20
Changed: Jul 24
Last Checked: Jul 26 at 10:28PM
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 Skyline Properties, Inc.
Investment Insights
Based on property information with market context.
Well-maintained, fully occupied 4-plex offering a townhome-style configuration in each unit. All units are two bedrooms and one bath and feature laminate flooring, with the added convenience of a 1-car garage per unit.
The property is positioned near major commuting routes and within reach of shopping, schools, public transportation, and employment centers throughout Auburn, Kent, and the greater South King County market.
For buyers seeking a residential income asset, the consistent unit mix and garage amenities provide a straightforward operating profile across the four homes.
The property is positioned near major commuting routes and within reach of shopping, schools, public transportation, and employment centers throughout Auburn, Kent, and the greater South King County market.
For buyers seeking a residential income asset, the consistent unit mix and garage amenities provide a straightforward operating profile across the four homes.
Key Highlights
- 1984‑built, fully occupied 4‑plex with townhome‑style unit layouts
- Each unit is a 2‑bedroom, 1‑bath layout
- Units include laminate flooring
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.1k | $25.50 |
| − Vacancy | −$5.3k | −$1.41 |
| EGI | $91.7k | $24.09 |
| − OpEx | −$27.5k | −$7.23 |
| NOI | $64.2k | $16.87 |
3,806 SF · lease $25.50/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$917.1K
$802.4K – $1.07M
NOI $64,194 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$845.1K
$739.5K – $986.0K
NOI $59,157 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,708 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied 4-plex with townhome-style layouts, each unit featuring 2 bed/1 bath and a 1-car garage.
Where is this quadplex located?
The property is located at 903 31ST Auburn, WA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 1984‑built, fully occupied 4‑plex with townhome‑style unit layouts; Each unit is a 2‑bedroom, 1‑bath layout; Units include laminate flooring
