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Investment Highlights

  • Next to the new sound transit line

Executive Summary

Welcome to Mar-A-Villa at the newly created Transit Authority Density District in Kent, Washington. This property is ideally suited for mixed-use development with the potential to build up to 16 stories with zero setbacks, providing exceptional vertical development potential. With its proximity to the Light Rail Station, it's one of the only properties with the MTC-2 zoning, giving this unique property the potential for a building that captures the stunning views of the Puget Sound and Mt Rainier. Residents and visitors will enjoy effortless access to public transportation, and easy access to Sea-Tac airport, Seattle, and beyond to the North, and directly South to Federal Way, eventually to Tacoma with the completion of the expanded Sound Transit Light Rail project in 2024. With it's close proximity to the cities of Kent and Des Moines with access via light rail giving easy accessibility to the Sea-Tac Airport, Seattle, Federal Way and eventually to Tacoma in mere minutes. Mar-A-Villa benefits from MTC-2 zoning, a result of recent zoning changes by Sound Transit via the Transit Authority Density District and the City of Kent. This zoning reclassification unlocks endless possibilities, empowering you to craft a vibrant community that seamlessly blends residential, commercial, and recreational spaces, from high-rise residences with modern amenities to dynamic retail spaces and inviting recreational areas. The possibilities for development are limitless. Adding to the allure, this property also boasts an easement that provides additional access to the back of the property. It operates under the unique business model of owning ALL 20 of the single-wide mobile home units, and all tenants are on a month-to-month lease. No tenant owns any of the mobile homes in the park, which would make relocation uncomplicated.

Data Room Click Here to Access

Financial Summary (Pro Forma - 2025)

Annual Annual Per AC
Gross Rental Income $145,680 $113,874.78
Other Income $1,596 $1,247.56
Vacancy Loss - -
Effective Gross Income $147,276 $115,122.33
Taxes $18,609 $14,546.24
Operating Expenses $26,000 $20,323.61
Total Expenses $44,609 $34,869.85
Net Operating Income $102,667 $80,252.48

Financial Summary (Pro Forma - 2025)

Gross Rental Income
Annual $145,680
Annual Per AC $113,874.78
Other Income
Annual $1,596
Annual Per AC $1,247.56
Vacancy Loss
Annual -
Annual Per AC -
Effective Gross Income
Annual $147,276
Annual Per AC $115,122.33
Taxes
Annual $18,609
Annual Per AC $14,546.24
Operating Expenses
Annual $26,000
Annual Per AC $20,323.61
Total Expenses
Annual $44,609
Annual Per AC $34,869.85
Net Operating Income
Annual $102,667
Annual Per AC $80,252.48

Property Facts

Price $2,950,000
Sale Type Investment
Sale Conditions
Build to Suit
  • Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Apartment Units
  • Apartment Units - Condo
Total Lot Size 1.28 AC
Zoning MTC2 - Transit Authority Zone

1 Lot Available

Lot

Price $2,950,000
Price Per AC $2,305,961.18
Lot Size 1.28 AC

Prime development opportunity! Mar-A-Villa Mobile Home Park in Kent, WA. Zoned for mixed-use, 16 floors, 100% lot coverage. Ideal for vibrant urban project. Don't miss out!!

Description

Exceptional development opportunity in Kent’s newly designated Transit Authority Density District. Mar-A-Villa offers rare MTC-2 zoning allowing for mixed-use development with potential for up to 16 stories and zero setbacks. Ideally located near Light Rail, providing seamless access to Sea-Tac Airport, Seattle, Federal Way, and Tacoma. Positioned to capture expansive views of Puget Sound and Mt. Rainier. Current use includes 20 park-owned mobile homes with all tenants on month-to-month leases, creating flexibility for future redevelopment. Easement provides additional rear access. Prime opportunity to deliver a high-density residential, retail, or mixed-use project in a rapidly growing transit-oriented corridor.

Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100

Property Taxes

Property Taxes

Parcel Number
250060-0436
Land Assessment
$390,000 (2024)
Improvements Assessment
$1,510,000 (2024)
Total Assessment
$1,900,000 (2024)
Annual Taxes
$18,609
Tax Year
2025
  • Listing ID: 28944842

  • Date on Market: 7/7/2023

  • Last Updated:

  • Address: 23810 30th Ave S, Kent, WA 98032

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