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501 37th St SE 4 Unit Apartment Building $1,100,000 ($275,000/Unit) 5.49% Cap Rate Auburn, WA 98002
INVESTMENT HIGHLIGHTS
- PROXIMITY TO EMPLOYMENT HUBS
- HIGH WALKABILITY SCORE
- GREAT NEARBY AMENITIES
EXECUTIVE SUMMARY
The Investment Sales Group at Compass Commercial is thrilled to present this attractive 4-unit multifamily property at 501 37th St SE, Auburn, WA. Each unit features a spacious 2-bedroom, 1.5-bathroom layout with 1,016 square feet, offeringcomfortable living in a prime suburban location near Seattle-Tacoma amenities. The property currently boasts a solid capitalization rate of 5.49%, reflecting strong immediate income potential. With scheduled rent increases effective December 1, 2025, the cap rate is projected to rise to 5.91%, enhancing returns and positioning this asset as an excellent value-add opportunity in a stable, growing market. The building was newly painted in September 2025 and features durable metal roofs, W/D hookups, large back patios with extra storage, ensuring low maintenance and enhanced curb
appeal. Seller financing is available to qualified buyers, providing flexible acquisition options. For more details or to discuss this opportunity further, please reach out to the Investment Sales Group at Compass Commercial
appeal. Seller financing is available to qualified buyers, providing flexible acquisition options. For more details or to discuss this opportunity further, please reach out to the Investment Sales Group at Compass Commercial
PROPERTY FACTS Under Contract
| Price | $1,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $275,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 5.49% | Building Size | 9,450 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1980 |
| Zoning | R20 | ||
| Price | $1,100,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 9,450 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Zoning | R20 |
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PROPERTY TAXES
| Parcel Number | 302105-9270 | Improvements Assessment | $608,000 |
| Land Assessment | $150,000 | Total Assessment | $758,000 |
PROPERTY TAXES
Parcel Number
302105-9270
Land Assessment
$150,000
Improvements Assessment
$608,000
Total Assessment
$758,000
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501 37th St SE
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