501 21st Street SE

Auburn, WA 98002

  • Bed

  • Bath

  • 8000 SqFt

  • 1 DOM

  • Built: 1973

  • Status: Active

$2,300,000

X

501 21st Street SE

Auburn 98002

$2300000

  • Bed

  • Bath

  • 8000 SqFt

  • 1 DOM

  • Built: 1973

  • Status: Active

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Srinivas Kasam

CEO & Founder

(650)533-3259

Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements—including new roofs, furnaces, and water heaters—eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374

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Residence Information

  • 8000

  • Composition

  • 55 - 5-9 Units

  • 1973

Features and Utilities

  • Brick, Wood

  • Public

  • Sewer Connected

  • 2811

Financial

  • 16109.79

  • Cash Out, Conventional

  • 07-09-2025

Comparable Information

  • 1

  • 1

  • Cash Out, Conventional

  • $2,300,000

  • $2,300,000

  • Jul 09, 2025 21:07

Schools

Map

Listing courtesy of COMPASS.

The content relating to real estate for sale on this site comes in part from the IDX program of the NWMLS of Seattle, Washington. Real Estate listings held by brokerage firms other than this firm are marked with the NWMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2025 NWMLS of Seattle, Washington. All information provided is deemed reliable but is not guaranteed and should be independently verified. Kasamestates data last checked: Jul 10, 2025 17:20 | Listing last modified Jul 09, 2025 21:07. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

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