First Avenue Townhomes 619 1st Ave S Immeuble residentiel 11 lots 2 359 553 € (214 505 €/Lot) Taux de capitalisation 6,42 % Kent, WA 98032

The Lee & Associates | Northwest Multifamily Team is pleased to present the exclusive listing of the First Avenue Townhomes, an 11-unit multifamily asset located in the heart of Kent, Washington. Situated just south of Kent Station and one minute from SR-516, the property offers tenants suburban livability with seamless access to major employment centers throughout the region.
The property features attractive large townhome style two-bedroom one and half bath units with walk up entrances averaging 1,000 sf. These spacious, two-level layouts feature walk-up entries, generous living areas on the ground floor, private patios, and upper-level bedrooms with ample closet space and skylit bathroom. All units are equipped with washer/dryer hook ups.. Units are clean and modestly finished offering investors potential upside through light updates to fixtures and finishes.
Built in 1966, the building is well maintained, receiving a new torch down roof in 2019, window replacements in 2018 and copper supply lines. Off-street parking is available for 18 vehicles and poses as a potential source of additional revenue for an investor.
With stable in-place income and meaningful upside via interior renovations and operational improvements, the First Avenue Townhomes represents an attractive opportunity to acquire a quality suburban rental asset in a high-demand Puget Sound submarket.
Well-maintained asset, offering strong in place income and ease of ownership.
Large Townhome Style 2-Bedroom Units Averaging 1,000 sf
High-Connectivity Location with Exceptional Regional Access
Additional upside available via cosmetic unit updates
Ideally located in the heart of the Kent Valley, First Avenue Townhomes offers unmatched convenience just south of Downtown Kent. The property is within walking distance to premier amenities including the Kent Station Shopping Center, the Sounder Train Station, and the accesso ShoWare Center, a major event venue. With direct access to State Routes 167 and 516, residents and commuters enjoy seamless connectivity to Interstate 5 and the future Kent-Des Moines Light Rail Station furthering connectivity to Seattle, SeaTac International Airport, and Tacoma.
The Kent Valley is one of the most active industrial corridors in the Pacific Northwest, supporting over 12,000 businesses and 62% of the region’s aerospace industry jobs. Leading employers such as Boeing, Amazon, Blue Origin, and REI contribute to a diverse and growing workforce, reinforcing the area’s reputation as a resilient, job-rich market.
Residents enjoy an abundance of recreational and cultural attractions. From concerts and hockey at the ShoWare Center, to dining and entertainment at Kent Station, to hiking and biking across 55 city parks and trails, including the Kiwanis Tot Lot one block from the subject, Kent offers a quality lifestyle within reach. Additionally, direct rail service to Seattle and Tacoma via the Sounder commuter line positions Kent as a convenient, commuter-friendly destination for working professionals.
First Avenue Townhomes is a rare opportunity to invest in a well-connected, growing submarket within South King County -offering both stability and upside.