21-Unit apartment community. The property is situated on a 1.07 acre lot sitting on two parcels, less than a mile away from Kent Station light rail stop. The apartments have front and back entrances that open up to grassy rear yards, along with off-street parking for residents. The unit interiors feature full size washer and dryer hookups, vaulted ceilings, and fireplaces in the end units. All units have been recently remodeled and buildings have new electrical panels.
Centrally located in the heart of Downtown Kent--this presents a compelling opportunity to acquire a highly visible mixed-use property, with 7% of its units having undergone renovation since 2021. The prospective owner not only inherits the stability of existing retail tenants but also possesses the value-add potential to renovate the remaining apartment units and bring all the rents to market. The Melbourne Building boasts a versatile design, featuring three leased retail spaces on the ground floor and five apartment units on the top floor. All three retail units have been leased and undergone comprehensive interior renovations within the past two years.
The Green Tree Court Apartments is an attractive and updated 17-unit community in a dynamic Kent location with lots of remaining upside and value-add potential. This two-story, garden-style community is comprised of 15 - 1BD/1BA and two - 2BD/1BA units. The property is conveniently located near the Kent Station retail mall and commuter rail. Built in 1968, the property has been well-maintained with many recent improvements including a new mansard roof, new doors and windows, and new exterior paint. In addition, 10 of the 17 units have been renovated, including new kitchen cabinets and quartz countertops, new solid surface flooring, upgraded appliances, and new bathroom vanities and tub surrounds.
The median home value in Kent, WA is $594,500. This is lower than the county median home value of $793,300. The national median home value is $338,100. The average price of homes sold in Kent, WA is $594,500. Approximately 53.1% of Kent homes are owned, compared to 42.16% rented, while 4.74% are vacant. Kent real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Kent real estate agent to arrange a tour today!
Kent, Washington 98032 has a population of 134,890. Kent 98032 is less family-centric than the surrounding county with 33.78% of the households containing married families with children. The county average for households married with children is 35.99%.
The median household income in Kent, Washington 98032 is $79,781. The median household income for the surrounding county is $106,326 compared to the national median of $69,021. The median age of people living in Kent 98032 is 34.8 years.
The average high temperature in July is 76.5 degrees, with an average low temperature in January of 35.9 degrees. The average rainfall is approximately 42.9 inches per year, with 5.8 inches of snow per year.