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$2,070,000

  • Sold
  • Closed
  • Multi-Family
  • 8 Car Garage
  • Updated 13 hours ago

Listed by Rachel Harwood | Compass | (206) 328-7200
Sold by Non Member ZDefault | ZNonMember-Office-MLS

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Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements-including new roofs, furnaces, and water heaters-eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374

Full Property Details for 501 21st St SE

General

  • Sold For: $2,070,000
  • Taxes: $16,109 (2025)
  • Status: Closed
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2394373
  • Added to Site: 193 day(s) ago

Interior

  • Flooring: Vinyl Plank, Carpet

Additional Information

  • Amenities: Cable TV, Fenced-Partially, High Speed Internet
  • Security/Safety: Partially Fenced

Parking

  • Garage Spaces: 8
  • Uncovered Spaces: 8

Location

  • Area: 310 - Auburn
  • County: King
  • Subdivision: Auburn
  • Driving Directions: North on A St SE, Right onto 21st St SE, Property on Left

School Information

  • High School District: Auburn

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard

Utilities

  • Sewer: Sewer Connected
  • Water: Public

Structural Information

  • Structure Type: Multi Family
  • Exterior Const.: Brick, Wood
  • Roof: Composition
  • Stories in Building: 1
  • Square Feet: 8,000
  • Year Built: 1973

Unit Information

  • Units in Building: 8

Lot Features

  • Lot Size (Acres): 0.921
  • Lot Size (Sq. Ft.): 40,117
  • Lot Size Source: Public Records
  • Lot Features: Paved, Sidewalk
  • Zoning: Multi-Family

Financial Considerations

  • Tax Amount: $16,109.79
  • Tax Year: 2025
  • Terms: Cash Out, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 1921059138

Listed by Rachel Harwood | Compass | (206) 328-7200
Sold by Non Member ZDefault | ZNonMember-Office-MLS

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with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 501 21st St SE

School District:Auburn School District
NameGradesDistance
Terminal Park Elementary School
1825 K Street Southeast, Auburn, WA 98002
PK-50.2 mi
Olympic Middle School, Auburn, WA
839 21st Street Southeast, Auburn, WA 98002
6-80.2 mi
Auburn Senior High School
711 East Main Street, Auburn, WA 98002
9-121.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 501 21st St SE

Date
Details
Price
Change
Source
12/18/2025
Sold
$2,070,000
-10%
MLS
7/09/2025
Listed
$2,300,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Rachel Harwood | Compass | (206) 328-7200
Sold by Non Member ZDefault | ZNonMember-Office-MLS

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501 21st Street SE, Auburn, WA 98002 (MLS# 2394373) is a Multi-Family property that was sold at $2,070,000 on December 18, 2025. Want to learn more about 501 21st Street SE? Do you have questions about finding other Multi-Family real estate for sale in Auburn? You can browse all Auburn real estate or contact a Coldwell Banker agent to request more information.