WA > Auburn > Auburn
Auburn, WA 98002,501 21st ST SE
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Auburn, WA 98002,501 21st ST SE
Auburn, WA 98002,501 21st ST SE
Auburn, WA 98002,501 21st ST SE
Auburn, WA 98002,501 21st ST SE
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Aaron Thomas Home Team

Aaron Thomas Home Team

+1(253) 740-7662
Listed by COMPASS
$ 2,300,000
Est. payment /mo
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501 21st ST SE Auburn, WA 98002

2 Beds

1 Bath

8,000 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,000 sqft

Price per Sqft $287

Subdivision Auburn

MLS Listing ID 2394373

Style 55 - 5-9 Units

Bedrooms 2

Year Built 1973

Annual Tax Amount $16,109

Lot Size 0.921 Acres

Property Sub-Type Multi Family

Property Description

Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements—including new roofs, furnaces, and water heaters—eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374

Location

State WA

County King

Area 310 - Auburn

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Brick, Wood

Amenities Available Cable TV, Fenced-Partially, High Speed Internet

View Y/N No

Roof Type Composition

Building

Lot Description Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Auburn

Others

Senior Community No

Acceptable Financing Cash Out, Conventional

Listing Terms Cash Out, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
agent

Aaron Thomas Home Team

Team Leader | License ID: 4370

+1(253) 740-7662

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