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Listings/Lobdell Apartments

Lobdell Apartments

On the Market

Price: $8,500,000

Tours: By Appointment

Offers Date: Reviewed Upon Receipt

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Site Details

Address
812 10th St NE
City, State
Auburn, WA
Units
48
Avg. Unit Size
475 SF
Net Rentable SF
22,780 SF
Year Built
1965
Laundry
In-Unit/Common

Residential Unit Mix

Open 1
11 Units
1x1
23 Units
2x1
13 Units
3x1
1 Unit
Total
48 Units

Opportunity

Lobdell Apartments is a 48-unit multifamily investment opportunity located in Auburn, Washington. Built in 1965, the property consists of four two-story buildings situated on over an acre of land. The unit mix includes studio, one-, two-, and three-bedroom floor plans, with an average unit size of approximately 475 square feet.

Value-Add Upside

Opportunity to renovate interiors with updated finishes, appliances, and fixtures to capture higher rent levels.

Strong Location

Close proximity to major employers, Kent Valley industrial hub, retail, parks, and regional transportation.

Built to Scale

48 units on 1.2 acres — rare density in an accessible submarket.

Location

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Lobdell Apartments

812 10th St NE
Auburn, WA 98092
Units: 48
Price: $8,500,000

About the Area

Located in Auburn, WA, Lobdell Apartments benefits from a dynamic and diverse local economy, anchored by manufacturing, aerospace, logistics, and healthcare sectors. Auburn offers residents convenient access to both Seattle and Tacoma, while being adjacent to the thriving Kent Valley industrial hub. The area combines strong employment drivers, regional connectivity, and a growing population that supports long-term multifamily demand.

Highlights

Easy access to I-5, Hwy 167, Sounder Train

Major nearby employers: Boeing, Blue Origin, and Kent Valley industrial base

Close proximity to retail centers, schools, parks, and entertainment venues

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