1.06 acres | #2285405
Description
Earn a lavish cash flow with awesome long-term tenants while going through the development process. Property has historically been used as a non-conforming duplex, but with MR-M zoning, the possibility exists to convert existing home into a conforming multi-family dwelling or keep as-is. 20+ units can be built on the existing parcel; work with the owners of the corner lot and potentially cost share in some of the development. New state laws have passed likely making it more favorable for lucrative development options, City of Kent in process of incorporating these changes to their Comprehensive Plan to be finished in summer of 2025. No critical areas! Current NOI= $42,181
Property Details
- Lot DescriptionCurbs, Paved, Secluded, Sidewalk
Measurements
- Acres1.0631
Construction Details
- Style42 - Multi-Family
- Property TypePurchase
Utilities / Energy Details
- Utility FeaturesElectricity Connected, Natural Gas Available, Septic Design Installed
- Utility SourceOn Property, See Remarks
- Sewer InformationAvailable, In Street
Community and Neighborhood Details
- SubdivisionPanther Lake
Location
- Middle SchoolMeeker Jnr High
- Elementary SchoolGlenridge Elem
- High SchoolKentridge High
- School DistrictKent
- CountyKing
Financial Details
- Original List Price$1,275,000
- Taxes Annual$6,339
- Days on Market (Cumulative)73
Other
- MLS #2285405
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2024-10-20 17:06:09. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.
Copyright 2024 Northwest Multiple Listing Service. All rights reserved.
Last Updated:Â . Source: NWMLS
Listing Courtesy
Listing Agent: Jason Sharp (#NWM42458)
Listing Office: Dove Realty, Inc. (#NWM9249)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
