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127 Kensington Ave S 15 Unit Apartment Building $2,650,000 ($176,667/Unit) 5.80% Cap Rate Kent, WA 98030
Investment Highlights
- Value Add Opportunity - Rent growth of 16% is achievable through straightforward interior upgrades and cosmetic modernization.
- Ideal Workforce Housing Profile - Classic garden-style layout built to serve renters priced out of Seattle/Bellevue, aligning with the region’s deepes
- Excellent Proximity to Major Employers - Positioned in central South King County — quick access to Boeing, Blue Origin, Amazon, and the Kent Valley in
- Large, Functional Floorplans - Generous unit sizes, averaging ~675 SF, across a unit mix of 1BRs, 2BRs, and a 3BR — rare versatility for the submarket
- 86 Walk Score Immediate Access - Located just minutes from Kent Station, offering immediate access to surrounding amenities
- Historically Stable Tenancy - Properties in Scenic Hill command high occupancy and long-term tenant retention due to livability and access to transit.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,650,000 | Building Class | C |
| Price Per Unit | $176,667 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 9,820 SF |
| Cap Rate | 5.80% | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.13/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MRD, Kent | ||
| Price | $2,650,000 |
| Price Per Unit | $176,667 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 9,820 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.13/1,000 SF |
| Zoning | MRD, Kent |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,260 | 500 - 600 |
| 2+1 | 8 | $1,450 | 740 |
| 3+1 | 1 | $1,559 | 800 |
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Walk Score®
Very Walkable (83)
Property Taxes
| Parcel Number | 192205-9191 | Improvements Assessment | $2,227,800 (2024) |
| Land Assessment | $220,200 (2024) | Total Assessment | $2,448,000 (2024) |
Property Taxes
Parcel Number
192205-9191
Land Assessment
$220,200 (2024)
Improvements Assessment
$2,227,800 (2024)
Total Assessment
$2,448,000 (2024)
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