501 21st Street Se, Auburn, 98002
MLS® #: 2394373
Pending, 111 Days on Market
Listing Office: COMPASS
Last Update: 2025-11-03
0
Garages
111
Dom
8,000
Square feet
0.92
Acres
1973
Built
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
Price & Status History
| Date | Details | Change |
|---|---|---|
| Date: | Details: Status Changed from Active to Pending | – |
Features of 501 21st Street Se
| MLS® # | 2394373 |
|---|---|
| Price | $2,300,000 |
| Bathrooms | 0.00 |
| Square Footage | 8,000 |
| Acres | 0.92 |
| Year Built | 1973 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Pending |
Community Information
| Address | 501 21st Street Se |
|---|---|
| Area | 310 - Auburn |
| Subdivision | Auburn |
| City | Auburn |
| County | King |
| State | WA |
| Zip Code | 98002 |
Amenities
| Parking Spaces | 16 |
|---|---|
| Is Waterfront | No |
Interior
| Heating | Baseboard |
|---|---|
| Cooling | None |
| Fireplace | No |
| # of Stories | 1 |
Exterior
| Exterior Features | Brick, Wood |
|---|---|
| Lot Description | Paved, Sidewalk |
School Information
| District | Auburn |
|---|
Additional Information
| Days on Market | 111 |
|---|---|
| Cumulative Days on Market | 111 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| Property Taxes | $16,110 |
Listing Details
| Office | COMPASS |
|---|
Listing Map
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