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429 37th St SE 26 Unit Apartment Building $990,000 ($38,077/Unit) 6.62% Cap Rate Auburn, WA 98002
EXECUTIVE SUMMARY
The Investment Sales Group at Compass Commercial is thrilled to present this attractive 4-unit multifamily property at 429 37th St SE, Auburn, WA. Each unit features a spacious 2-bedroom, 1.5-bathroom layout with 1,016 square feet, offering comfortable living in a prime suburban location near Seattle-Tacoma amenities. The property currently boasts a solid capitalization rate of 6.62%, reflecting strong immediate income potential. The building has been newly painted in September 2025 and features durable metal roofs, W/D hookups, large back patios with additional storage ensuring low maintenance and enhanced curb appeal. This property is also ideal for an investor to take advantage of owner-occupied financing with one unit vacant and available to show. For more details or to discuss this opportunity further, please reach out to the Investement Sales group at Compass Commercial
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $990,000 | Apartment Style | Low-Rise |
| Price Per Unit | $38,077 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 6.62% | Building Size | 15,297 SF |
| No. Units | 26 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment |
| Price | $990,000 |
| Price Per Unit | $38,077 |
| Sale Type | Investment |
| Cap Rate | 6.62% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 15,297 SF |
| No. Stories | 2 |
| Year Built | 1980 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 26 | $1,853 | 1,016 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,301,000 | |
| Land Assessment | $471,300 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,829,700 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$471,300
Improvements Assessment
$1,829,700
Total Assessment
$2,301,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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429 37th St SE
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