$2,300,000
501 21st Street SE, Auburn, WA 98002
8,000 Sq Ft
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501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002
501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002 501 21st Street SE, Auburn, WA 98002

MLS #2394373 / Listing provided by NWMLS & COMPASS.

$2,300,000

501 21st Street SE
Auburn, WA 98002

Active 1 day ago
8,000
Sq Ft
$288
Per Sq Ft
1973
Year Built

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

Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.

Interior Features

Bedrooms

  • Upper Level Bedrooms: 0
  • Possible Bedrooms: 0

Fireplaces

  • Total Fireplaces: 0

Heating & Cooling

  • Heating: Yes
  • Cooling: No
Exterior Features

Parking

  • Parking Total: 16
  • Uncovered Parking Spaces: 8
  • Open Parking Spaces: 8

Structure

  • Roof: Composition
  • Exterior Features: Brick, Wood

Lot Details

  • Lot Features: Paved, Sidewalk
  • Acres: 0.921
Area Features

Schools

  • High School District: Auburn

Lot Details

  • Lot Features: Paved, Sidewalk
  • Acres: 0.921
Utilities

Power

  • Energy Source: Electric

Water, Sewer, and Garbage

  • Sewer: Sewer Connected
  • Water Source: Public
  • Water, Sewer, and Garbage: 2812
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Whitney Johnsen

Whitney Johnsen
Broker | REALTOR®

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