- For Sale $6,250,000
- Property Type Multi-Family
- Property Size 26,632 SF
- Units 35
- Lot Size 1.28 Acre
- Cap Rate % 5.5
- Additional Rent Contact for pricing
- Year Built 1963
- Year Renovated 1990
- Date Updated Sep 18, 2024
35 APARTMENT HOMES in desirable and centrally located Kent community
HEAVY VALUE–ADD opportunity to finish interior renovations and increase NOI by over 37%
DIVERSIFIED UNIT MIX (22) 2-bedroom 1 bath, (11) 1-bedroom 1-bath and (2) 3-bedroom 1 bath units
averaging 760 SF
TRANSIT ORIENTED community property is minutes from Kent Station and Interstate 5
TOP OF THE MARKET interior finishes on fully renovated units, reference renovation schedule (page 6)
LOW DENSITY APARTMENT community holding 35-units on 1.28 acres
CASH FLOWING asset offered at 5.5% with large rental upside and low going price per unit ($178/unit)
STABILIZE EXPENSES opportunity to cut cost by bringing payroll down to market standard
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Contacts
Location
Getting Around
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Walk Score ®
28/100
Car-Dependent
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Transit Score ®
26/100
Some Transit
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Bike Score ®
34/100
Somewhat Bikeable
- City Kent, WA
- Neighborhood South Kent
- Zip Code 98032
- Market Seattle
Points of Interest
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Kent
1.98 miles
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S Gates
4.61 miles
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B Gates
4.77 miles
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A Gates
4.77 miles
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Capital Aeroporter Airport Shuttle
4.90 miles
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C Gates
5.09 miles
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N Gates
5.24 miles
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Uber Pickup Zone
5.73 miles
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Tukwila International Boulevard
6.17 miles
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Arco
0.79 miles
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76
1.00 miles
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Chevron
1.26 miles
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Fred Meyer Fuel Stop
1.28 miles
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Safeway Fuel Station
1.36 miles
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7-Eleven
1.44 miles
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Shell
1.47 miles
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Mobil
1.47 miles
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Blink
1.64 miles
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ChargePro
1.73 miles
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Future Resident Parking
0.10 miles
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Green River Trail Parking
0.29 miles
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Lake Fenwick Disc Golf Course Parking
0.54 miles
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Parking Lot 3
0.80 miles
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Parking Lot 4
0.81 miles
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Parking Lot 2
0.84 miles
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Parking Lot 5
0.90 miles
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St. Columba's Episcopal Church Park & Ride
1.31 miles
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Green River Trailhead Parking
1.33 miles
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Best Western Plaza by the Green
0.71 miles
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Quality Inn
0.85 miles
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Crossland Economy Studios - Seattle/Kent/Des Moines
1.14 miles
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New Best Inn
1.45 miles
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Red Lion Inn & Suites - Kent/Auburn
1.46 miles
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Motel Travel Inn
1.63 miles
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Garden Suites
1.79 miles
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Four Points by Sheraton Seattle Airport South
2.05 miles
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Kent Valley Motel
2.15 miles
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Valu Inn Sea Tac
2.16 miles
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Musashi's
0.45 miles
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Half Lion Public House
0.62 miles
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A Pizza Mart
0.67 miles
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Domino's
0.68 miles
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Full House Chinese Cuisine
0.70 miles
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Shari's
0.71 miles
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Tropic Fresh
0.71 miles
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Tortas Locas
0.71 miles
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I Love Tamales
0.74 miles
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Mr. Camarón
0.77 miles
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Grace Christian Academy
0.56 miles
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Sunnycrest Elementary School
0.59 miles
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Seni C.N.A. Nursing School
0.66 miles
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Happy Hearts Christian School
0.66 miles
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Blossom CNA Training
0.69 miles
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Basic Steps Learning Center
0.70 miles
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Totem Middle School
0.99 miles
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Star Lake Elementary School
1.07 miles
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Kent Elementary School
1.09 miles
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Neely - O'Brien Elementary School
1.36 miles
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Toddler Town
0.63 miles
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Midway KinderCare
1.15 miles
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Great Beginnings Childcare
1.37 miles
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Grace Lutheran Preschool
1.95 miles
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Grace Lutheran Preschool and Kindergarten
2.04 miles
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Little Pioneers Academy
2.23 miles
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Angel Childcare
2.27 miles
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Z's Chold Care
2.33 miles
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KinderCare
2.80 miles
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Bright Horizons
3.12 miles
Frequently Asked Questions
How much does Timber Heights cost?
The space currently listed for sale at Timber Heights asks for $6,250,000.
What is the total square footage of Timber Heights?
Timber Heights totals 26,632 square feet.
When was this property built?
Timber Heights was built in 1963.
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