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Listed by:Real Broker LLC • Charles Burnett
$ 1,375,000
Est. payment /mo
New
31624 W Rutherford ST Carnation, WA 98014
9 Beds
6 Baths
3,936 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,936 sqft
Price per Sqft $349
Subdivision Carnation
MLS Listing ID 2542138
Style 55 - 5-9 Units
Bedrooms 9
Year Built 1964
Annual Tax Amount $9,192
Lot Size 0.348 Acres
Property Sub-Type Multi Family
Property Description
Rare opportunity to acquire a six-unit apartment building in Carnation. Seller financing offered with ~35% down and interest-only payments during the first year, allowing the new owner to maximize cash flow while renovating units, increasing rents, and stabilizing the property before principal payments begin. Situated on a 15,152 SF corner lot with R-24 zoning, the property offers future expansion or redevelopment potential (buyer to verify), adding long-term value beyond the existing improvements. Unit mix consists of (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility for future improvements and repositioning. Current rents are approximately 40% below projected market rents following renovations, creating exceptional value-add potential. Additional income is generated through the on-site common laundry, and current tenants reimburse the owner for utilities, helping offset operating expenses. Additional features include ample parking, a roof with substantial remaining useful life, and recently replaced upper decks. Ideally located in downtown Carnation, just minutes from Snoqualmie, with convenient access to SR 520, Microsoft, Redmond, and Bellevue. A compelling opportunity to acquire a value-add multifamily asset with flexible financing, strong upside, and long-term appreciation potential in one of King County's most supply-constrained rental markets.
Location
State WA
County King
Area 550 - Redmond/Carnation
Interior
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Wood
View Y/N Yes
View Territorial
Roof Type Torch Down
Building
Lot Description Corner Lot
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Riverview
Others
Senior Community No
Acceptable Financing Conventional, Owner Will Carry
Listing Terms Conventional, Owner Will Carry
"Three Trees" icon indicates a listing provided courtesy of NWMLS.