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22506 7th Ave S
Des Moines, WA 98198

$2,100,000 USD

Apartments For Sale • 6,030 SF

Property Details

Property Type Apartments
Total Building Size 6,030 SF
Lot Size 0.34 AC
Building Class C
Year Built 1939
Cap Rate 4.57 %
Zoning DC

0 Transit Score

85 Walk Score

                
                    Highlights
                
                                Great Des Moines location near the Marina
                            
                                Value-add opportunity
                            
                                Significant upside in current rent/income
                            
                                13 units: (4) two-bedroom/one-bath, (4) one-bedroom and (5) studio units
                            
                                Large 2 car garage and shop/storage space that could be rented and repurposed
                            
                                Off-street parking: 12+ stalls

Property Flyers

22506 7th Ave S - RPI

Financial Summary (Actual)

Net Operating Income: $96,049 USD (2023)

Cap Rate:	4.57 %
Total Expenses:	$71,588 USD

Public Transportation

Commuter Rail	Drive	Walk	Distance
Kent Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	12 min	-	6.2 mi
Tukwila Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	14 min	-	7.6 mi
Airport	Drive	Walk	Distance
Seattle-Tacoma International	14 min	-	5.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	15
Type:	Surface
Included in Rent:	Yes

Ryan Iles 206-948-3670 Paragon Real Estate Advisors

22506 7th Ave S Des Moines, WA 98198