132xx 231St St Kent, WA 98042
This exceptional 0.376-acre parcel in Kent, WA (98042), presents a rare opportunity for developers, builders, or investors. A preliminary short plat, approved by the City of Kent, allows for the construction of two substantial single-family homes. Lot sizes are generous, with Lot 1 spanning 8,128 square feet and Lot 2 measuring 10,027 square feet. Essential utilities are readily accessible, including public water and sewer easements already in place. Power is conveniently located in the street, and gas service is available at the end of the street. The property boasts a desirable location, situated between Lake Youngs and Lake Meridian, near the Soos Creek park and trail, and nestled on a residential cul-de-sac. Its proximity to shopping centers, freeways, and bus lines adds to its appeal. Importantly, the site is free of critical areas or wetlands, simplifying the development process. This turnkey opportunity offers a significant advantage with the planning and preliminary approval work already completed, minimizing delays and maximizing potential returns. Priced at $460,000, this property represents a compelling investment in a highly sought-after Kent neighborhood.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.