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INSIDER OPPORTUNITY

6 UNIT APARTMENT

7.25% CAP | $825,000 | $137,500/UNIT

425 H STREET NE | AUBURN, WA 98002

 

CONTACTS

Ariv Vozhi
Broker |
425.823.9809 | Vozhi.homes@gmail.com

Kasim Siddiqui
Broker |
206.450.5945 | Vozhi.homes@gmail.com


OFF-MARKET OPPORTUNITY

REMODELED UNITS

 
 
REW ROOF

REW ROOF

PARTIAL NEW SIDING

PARTIAL NEW SIDING

DECK OFF CARPORT

DECK OFF CARPORT

 

SUMMARY OF FEDERAL WAY & AUBURN MARKET (COSTAR.COM)

Strong demand in Federal Way has resulted in tight vacancies and solid rent growth, which is among the highest in the metro this cycle. However, it should be noted that there was a notable decrease in annual gains starting in late 2016. New development has historically been limited in the submarket, but construction activity has been above average since the beginning of the recovery due to a growing renter base from those priced out of the urban core.

Investment reached unprecedented levels in 2015 and 2016, including both institutional and smaller value-add deals. Sales volume since then has been much lower as prices have appreciated, but institutional investors continue to target the submarket in search of higher yield.

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425 H ST. NE AUBURN WA 98002

KING COUNTY RECORDS

 

6

Units

541

Avg SF/Unit

3,250

Rentable SF

15,500

Lot SF

1958/1988

Yr Built

R7

Zoning

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SITE LOCATION