1019 18th Street NE, Auburn, WA 98002
- $935,000
- 3,560
- SqFt
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $935,000
- Status
- ACTIVE
- MLS#
- 2538486
- Days on Market
- 195
- Style
- 53 - Tri-plex
- Finished SqFt
- 3,560
- Area Total SqFt
- 3560
- Annual Tax Ammount
- 7768
- Lot Size (sq ft)
- 14,010
- Sewer
- Available
Property Description
Calling all investors! Don’t miss this rare opportunity to own a townhome-style triplex in the highly desirable Meadow Brooke Estates, ideally located within walking distance of North Auburn’s schools, restaurants, and shopping. Each well-maintained unit offers approximately 1,187 SF with 2 bedrooms + den, 1.5 baths, in-unit laundry, individual attached garages, additional driveway parking, and access to a shared yard area. Major capital items including roof, windows, and siding have been replaced, making this a low-maintenance, turnkey investment. All three units are currently leased with historically low vacancy, providing immediate, stable cash flow. Zoned R-10, the property allows for a variety of residential uses, including short-term rental use subject to City of Auburn regulations, offering potential operational flexibility for future ownership strategies. With a 5.75% cap rate, strong in-place tenancy, and a prime location just minutes from downtown Auburn, major highways, and Green River College, this asset presents a compelling opportunity for investors seeking durability, flexibility, and long-term demand.
Additional Information
- List Date
- 2026-01-14 22:20:18
- Community
- Auburn
- Net Operating Income
- $52,389
- Gross Adjusted Income
- $71,751
- Gross Scheduled Income
- $75,528
- Total Monthly Income
- $6,294
- Insurance Expenses
- $2,153
- Water/Sewer/Garbage Expenses
- $7,176
- Gross Rent Multiplier
- 12.38
- Total Expenses
- $17,097
- Cap Rate
- 5.6
- Vacancy Rate
- 5
- Total Number of Units
- 3
- Unit Name
- 1019
- Potential Terms
- Cash, Conventional, VA Loan
- Year Built
- 1989
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Partially, Patio
- Energy Source
- Electric
- School District
- Auburn
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Mountainview High
- Total Monthly Income
- $6,294
- Gross Scheduled Income
- $75,528
- Vacancy Rate
- 5
- Gross Adjusted Income
- $71,751
- Tax Year
- 2025
- Insurance Expense
- $2,153
- W/S/G Expenses
- $7,176
- Total Expenses
- $17,097
- Net Operating Income
- $52,389
- Gross Rent Multiplier
- 12.38
- Cap Rate
- 5.6
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.