Swiss Gables

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Price: Market

Now Touring: Thursday 4/10 12pm-2pm

Offers Date: Wednesday, April 16th

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Site Details

Address

4620 S 254th Place

City

Kent

Units

108

Avg. Unit Size

807 SF

NRSF

93,940

No. of Buildings

Parking

205 stalls (131 open, 74 covered)

Year Built

1969

Building Systems

Updated

Laundry

In-Unit

Residential Unit Mix

1x1 - Upgraded

1x1 - Renovated

2x1 - Upgraded

2x1 - Renovated

2x1.25 - Classic

2x1.25 - Upgraded

2x1.25 - Renovated

Opportunity

Swiss Gables Apartments presents a 108-unit value-add investment opportunity in Kent, WA, a rapidly growing submarket within the Puget Sound region. With a prime location near major employment hubs and significant rental income upside, the property offers strong operational efficiencies that can be leveraged for increased NOI.

This high-demand rental asset presents an excellent repositioning opportunity, with targeted upgrades and improved management efficiencies unlocking substantial upside potential. The property features an attractive unit mix, with spacious floor plans averaging 870 SF, offering a blend of upgraded, renovated, and classic units. Additionally, electrical, plumbing, and windows have been updated, while buildings A, B, and C boast new roofs, ensuring a well-maintained asset with long-term durability.

Strong Value-Add Potential

Current expenses run at a 44% expense load, providing an opportunity for operational improvements and increased NOI.

Rental Income Growth

Projected rental increases demonstrate a 15% growth potential, with in-place rents below market comparables.

Prime Location & Connectivity

Located near Kent Valley’s thriving industrial and logistics hub, with proximity to Amazon, Boeing, and Blue Origin. The property offers convenient access to I-5, SR-167, and the Sounder Train, connecting residents to Seattle, Bellevue, and Tacoma.

Community Features

The property includes in-unit laundry, ample parking (164 spaces), and green surroundings, creating a serene living environment.

Location

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About the Area

Swiss Gables Apartments is ideally located in Kent, WA, a fast-growing city in the Puget Sound region, just 20 miles south of Seattle. As one of Washington’s largest industrial and logistics hubs, Kent benefits from a diverse economy driven by aerospace, manufacturing, and technology sectors.

With major employers like Amazon, Boeing, and Blue Origin, the area offers a strong job market and steady rental demand. Residents enjoy convenient access to highways, public transit, and retail centers, making Swiss Gables a prime investment in a thriving location.