855 4Th Ave, Kent, WA 98032
- Commercial real estate
- 1.20 lot acres
Current Use by Public Records
- gloriamacias.com / Medical Clinic / Skin Care Clinic
Property Details for 855 4Th Ave
- Year built
- 1986
- Lot size
- 1.20 lot acres
- Property type
- Commercial real estate
- APN
- 132204-9231, 132204-9176
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 10, 2025 | $2,975,000 | Garden Village Apartments LLC | Garden Park Associates LLC | Warranty Deed | $1.7M · Twinstar Cu |
| Apr 14, 2023 | — | Garden Park Associates LLC | — | Deed · related | $2M · Jpmorgan Chase Bank NA |
| Feb 27, 2017 | — | Garden Park Associates LLC | — | Grant Deed · related | $1.3M · Jp Morgan Chase Bk |
Description
This 13-unit apartment building, located at 855 4th Ave N, Kent, WA 98032, presents a compelling value-add investment opportunity. The property, built in 1986 and renovated in 2005, boasts 14,200 square feet of net rentable space situated on a 1.2-acre lot. All 13 units are two-bedroom, two-bathroom apartments, each averaging over 1,000 square feet and featuring modern amenities including in-unit washer/dryer, private balconies, and dedicated garage parking (12 spaces total). Currently operating at 100% occupancy (as of October 1, 2024), the property offers significant rental upside due to below-market rents. The property's strong pro-forma NOI of $208,231 translates to a 6.48% pro-forma cap rate on the $3,055,000 asking price. Its strategic location near Kent Station and the future Kent-Des Moines Link Light Rail Station, coupled with proximity to Kent Valley's thriving industrial market, ensures strong tenant demand and future appreciation. The property is zoned MR-G and features stainless steel appliances and vinyl plank flooring in nearly all units. This well-maintained, owner-operated building presents a turnkey investment with substantial potential for increased returns. The King County Assessor's Parcel Numbers are 132204-9231 and 132204-9176.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Kent
- County
- King
- State
- Washington
- Longitude
- -122.2385866
- Latitude
- 47.3899896
