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1019 18th St NE 3 Unit Apartment Building $950,000 ($316,667/Unit) 5.75% Cap Rate Auburn, WA 98002
Executive Summary
Calling all investors! Don’t miss this rare opportunity to own a townhome-style triplex in the highly desirable Meadow Brooke Estates, ideally located within walking distance of North Auburn’s schools, restaurants, and shopping. Each well-maintained unit offers approximately 1,187 SF with 2 bedrooms + den, 1.5 baths, in-unit laundry, individual attached garages, additional driveway parking, and access to a shared yard area. Major capital items including roof, windows, and siding have been replaced, making this a low-maintenance, turnkey investment. All three units are currently leased with historically low vacancy, providing immediate, stable cash flow. Zoned R-10, the property allows for a variety of residential uses, including short-term rental use subject to City of Auburn regulations, offering potential operational flexibility for future ownership strategies. With a 5.75% cap rate, strong in-place tenancy, and a prime location just minutes from downtown Auburn, major highways, and Green River College, this asset presents a compelling opportunity for investors seeking durability, flexibility, and long-term demand.
Discover the vibrant neighborhood surrounding the property in Auburn, Washington. Embrace the city's dynamic atmosphere with easy access to the Auburn SuperMall, offering a plethora of shopping and dining options. Nature enthusiasts will appreciate the area's proximity to the scenic Flaming Geyser State Park and the White River, perfect for outdoor recreation and relaxation. Auburn's thriving arts and culture scene can be explored at the White River Valley Museum and the nearby Green River College's renowned performing arts center. With its convenient location near major highways and public transportation, the area provides an ideal blend of urban excitement and suburban charm for those seeking a multifamily or high-rise lifestyle.
Discover the vibrant neighborhood surrounding the property in Auburn, Washington. Embrace the city's dynamic atmosphere with easy access to the Auburn SuperMall, offering a plethora of shopping and dining options. Nature enthusiasts will appreciate the area's proximity to the scenic Flaming Geyser State Park and the White River, perfect for outdoor recreation and relaxation. Auburn's thriving arts and culture scene can be explored at the White River Valley Museum and the nearby Green River College's renowned performing arts center. With its convenient location near major highways and public transportation, the area provides an ideal blend of urban excitement and suburban charm for those seeking a multifamily or high-rise lifestyle.
Property Facts
| Price | $950,000 | Apartment Style | Townhome |
| Price Per Unit | $316,667 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 3,560 SF |
| Cap Rate | 5.75% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1989/2015 |
| Property Subtype | Apartment | ||
| Zoning | R10 | ||
| Price | $950,000 |
| Price Per Unit | $316,667 |
| Sale Type | Investment |
| Cap Rate | 5.75% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Lot Size | 0.32 AC |
| Building Size | 3,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1989/2015 |
| Zoning | R10 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 3 | - | - |
1 1
Property Taxes
| Parcel Number | 540900-0110 | Improvements Assessment | $680,000 |
| Land Assessment | $157,000 | Total Assessment | $837,000 |
Property Taxes
Parcel Number
540900-0110
Land Assessment
$157,000
Improvements Assessment
$680,000
Total Assessment
$837,000
Contacts
-
Nisha Tomar -
Candice Chevaillier, CCIM -
Daniel Lim -
Dea Sumantri -
Sara Bago -
Lee & Associates Commercial Real Estate Services
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