Sign up to receive our listings
Let’s talk about apartments
sold
Listings/Parkside Apartments
Parkside Apartments
Sale Price: $2,550,000
For more information about this property, please contact the listing broker.
Please visit our Listings page to view apartment buildings and development land currently on the market.
Executive Summary
Parkside Apartments is a 13-unit apartment building located in the heart of Kent, WA. Built in 1967, Parkside was renovated by the current owner between 2017 – 2019, offering fully updated units and modern finishes for residents. This turn-key investment will provide stable cash flow for years to come, benefiting from growing demand and job opportunities in the Kent Valley, as well as easy access to the Seattle and Eastside markets.
Property Highlights:
- Desirable unit mix of studio, one-bedroom, and two-bedroom units
- Complete interior / exterior remodel
- Low historic vacancy
- Excellent renters market
- Upside in Kent’s increasing market rents
Sale Details
Property Details
Investment Opportunity
Building: Built in 1967, Parkside was completely remodeled inside and out between 2017-2019. Exterior improvements include siding/paint, and second floor railing woodwork. All unit interiors have been updated to feature vinyl flooring, quartz countertops, and slow-close cabinets and drawers, along with updated plumbing and electrical.
Turn-Key Investment: Low maintenance and high cash flow, Parkside offers investors chance to own a complete turn-key, market-rate apartment building. This 13-unit property is positioned to provide stable cash flow for owners with minimal big ticket expenses for years to follow.
Location: Parkside sits close to I-5, State Route 167, and the Sounder commuter train, allowing residents to commute with flexibility among the region’s major employers. Kent’s population has grown more than twice the country average since 2010 and incomes have grown in line with King County as a whole.
Building
Fully renovated inside and out
Turn-Key Investment
Low maintenance and high-cash flow investment
Location
High-growth, amenitized market south of Seattle
Location
Open Google Maps
About the Area
Kent, located in South King County, is the 6th-largest city in the state, with an estimated population of around 125,000.
Located in downtown Kent, the Parkside Apartments sit less than five minutes from major metropolitan transportation hub Kent Station. Kent Station is served by 13 daily round trips on the Sounder commuter rail, which travels north to King Street Station in Downtown Seattle and south to Tacoma Dome Station and Lakewood Station on weekdays. Sounder trains travel from Kent to Seattle in approximately 27 minutes and to Tacoma in 35 minutes. The station is also a major transit hub for King County Metro and Sound Transit Express, with nine bus bays served by several regional routes.
Kent sits in the center of the Seattle-Tacoma metropolitan area, 19 miles south of Seattle and 19 miles northeast of Tacoma. A culturally rich destination, Kent features captivating neighborhoods, award-winning parks, exceptional school districts, and nationally accredited police and fire departments. Kent has seen unprecedented economic growth with an increase in population of roughly 39% between 2010 to 2017.
3 Minutes
Bike Ride to Kent Station transportation hub
4 Minutes
Drive to Kent Station retail center
13 Minutes
Drive to Seattle employers
14 Minutes
Walk to ShoWare Center arena
21 Minutes
Drive to Tacoma employers
Gallery
Contact Us
Exclusive Listing Brokers
Kidder Mathews is the exclusive Listing Brokerage for this Offering. Austin Kelley, Dylan Simon, and Jerrid Anderson are exclusively representing the Seller in the sale of Parkside Apartments.
