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
- Utility FeaturesElectricity Connected, Natural Gas Available, Septic Design Installed
- Lot DescriptionCurbs, Paved, Secluded, Sidewalk
- Utility SourceOn Property, See Remarks
- Sewer InformationAvailable, In Street
- Style42 - Multi-Family
- Middle SchoolMeeker Jnr High
- Elementary SchoolGlenridge Elem
- High SchoolKentridge High
- Date ListedJuly 27, 2024
- SubdivisionPanther Lake
- Structure TypeMulti Family
- Original List Price$1,275,000
- Property TypePurchase
- MLS #2285405
- Cost1275000
- MLS #2285405
- Acres1.0631
- Taxes Annual$6,339
- School DistrictKent
- CountyKing
- Property SubtypeLand
- Days on Market (Cumulative)86
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 2024-11-14 16:19:33. 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.
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Last Updated: . 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.
