506 1st Street SW, Auburn, WA 98001
- $1,050,000
Listing courtesy of Best Choice Realty.
- List Price
- $1,050,000
- Status
- ACTIVE
- MLS#
- 2301877
- Days on Market
- 48
- Annual Tax Ammount
- 11572
Property Description
This 6-plex is your next investment opportunity in the heart of Auburn's Downtown! Property is 100% rented & managed by a local property mgmt company. Potential to expand investment w/triple lot. Look into adding or building an ADU. 1st floor units have original millwork & tall ceilings. Upstairs units clean w/updated flooring & paint. Efficiency upgrades-basement & attic insulation. Endless positives to boast about with spacious layout providing comfortable living space for tenants to enjoy. Newer electrical panel. Updates: boilers in 2021, Roof in 2020 & shared coin-operated laundry area w/newer machines for addl income. Plenty of storage space for each unit. Within minutes to restaurants, lightrail & entertainment. Make an offer today!
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Additional Information
- Community
- Auburn
- Style
- 62 - Business Opp.
- Year Built
- 1906
- Roof
- Composition
- Tax Year
- 2024
- Potential Terms
- Cash Out, Conventional
- Interior Features
- Wall to Wall Carpet
- Flooring
- Carpet
- Driving Directions
- Take the 15th ST NW exit, Turn RIGHT onto 15th ST NW, Turn LEFT onto W Valley HWY N, Turn LEFT onto W Main ST, Turn RIGHT onto E ST SW,
- Electric Expenses
- 5658
- Buyer Agency Compensation
- 2
- Net Operating Income
- $63,279
- Gross Adjusted Income
- $92,065
- Gross Scheduled Income
- $99,600
- Water/Sewer/Garbage Expenses
- $2,965
- Vacancy Rate
- 2
- Total Expenses
- $23,471
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.