501 21st Street SE Auburn, WA 98002
501 21st Street SE
Auburn, WA 98002
$2,300,000
Multi-Family
0 Beds
0.00 Baths
0 SqFt
Pending
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
Property Features
Community: Auburn
5-9 Units
Cable TV
Fenced-Partially
High Speed Internet
Exterior: Brick
Exterior: Wood
Roof: Composition
Year Built: 1973
2025 Taxes: $16109.79
Buyer Broker Compensation: 1.75%
Listing #: 2394373
Lot Details
Lot Size: 0.92 acres
Paved
Sidewalk
Interior
Cooling: None
Heating: Baseboard
Electric
Call or Email:
Grace Wamwere
What's Near 501 21st Street SE Auburn, WA 98002?
Information is based on data available to the associate, including county records. The information has not been verified by the associate and all information presented should be verified by the buyer. Listings are provided by Northwest Multiple Listing Service as distributed by MLS GRID. The associate represented on this web site is not a multiple listing service but is a member of a local MLS.
DMCA Notice 
Courtesy of COMPASS
