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1604 King St 2 Unit Apartment Building $450,000 ($225,000/Unit) 4.76% Cap Rate Shelton, WA 98584
Executive Summary
Presenting a fully occupied 1,848 SF DUPLEX on a generous 14,810 SF lot, currently operating as transitional housing with strong potential for future conversion into market-rate rentals. This property generates an impressive $21,429 in annual NOI. This property features two 2-bed, 1-bath units, each with a comfortable living room, dining area, and spacious galley kitchen. Additional amenities include private patios, fully fenced yards, in-unit laundry, one-car garages for each unit, and ample parking for residents and guests. Conveniently located near restaurants, grocery stores, and major highways, this property offers strong rental potential and represents a solid investment opportunity for both experienced and first-time investors.
Property Facts
| Price | $450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.76% | Building Size | 1,848 SF |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment |
| Price | $450,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 1,848 SF |
| No. Stories | 1 |
| Year Built | 1975 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | 32018-57-18001 | Improvements Assessment | $282,680 |
| Land Assessment | $46,985 | Total Assessment | $329,665 |
Property Taxes
Parcel Number
32018-57-18001
Land Assessment
$46,985
Improvements Assessment
$282,680
Total Assessment
$329,665
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