412 Mill Avenue S in Renton
| Listing ID: | 2566463 (Multi-Family) |
|---|---|
| Listing Price: | $1,550,000 |
| Days on Market: | 66 |
Details | |
| Bed / Bath: | 0.00 / 0.00 |
| Lot Size: | 0.12 acre (5,090 sqft) |
Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.
This listing is provided courtesy of NWMLS.
Listing Broker: Westlake Associates, Inc.; David W Petersen.
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