MLS #2542138 / Listing provided by NWMLS & Real Broker LLC.
$1,375,000
31624 W Rutherford Street
Carnation,
WA
98014
Sq Ft
Per Sq Ft
Year Built
Rare opportunity to acquire a six-unit apartment building in Carnation. Seller financing offered with ~35% down and interest-only payments during the first year, allowing the new owner to maximize cash flow while renovating units, increasing rents, and stabilizing the property before principal payments begin. Situated on a 15,152 SF corner lot with R-24 zoning, the property offers future expansion or redevelopment potential (buyer to verify), adding long-term value beyond the existing improvements. Unit mix consists of (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility for future improvements and repositioning. Current rents are approximately 40% below projected market rents following renovations, creating exceptional value-add potential. Additional income is generated through the on-site common laundry, and current tenants reimburse the owner for utilities, helping offset operating expenses. Additional features include ample parking, a roof with substantial remaining useful life, and recently replaced upper decks. Ideally located in downtown Carnation, just minutes from Snoqualmie, with convenient access to SR 520, Microsoft, Redmond, and Bellevue. A compelling opportunity to acquire a value-add multifamily asset with flexible financing, strong upside, and long-term appreciation potential in one of King County's most supply-constrained rental markets.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Parking Total: 12
- Total Uncovered Parking Spaces: 12
Structure
- Roof: Torch Down
- Exterior Features: Wood
- Foundation: Poured Concrete
Lot Details
- Lot Features: Corner Lot
- Acres: 0.3478
- Foundation: Poured Concrete
Schools
- High School District: Riverview
Lot Details
- Lot Features: Corner Lot
- Acres: 0.3478
- Foundation: Poured Concrete
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 11250
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