1019 18th St NE
- 3,560 SF building
- 3 units
- Built in 1989
- Zoned R-10
- Located in Auburn
- 100% occupancy
Property Description
Calling all investors! Don’t miss this rare opportunity to own a townhome-style triplex in the desirable Meadow Brooke Estates, conveniently located near North Auburn’s schools, shopping, dining, and everyday amenities. Each well-maintained unit offers approximately 1,187 SF featuring 2 bedrooms + den, 1.5 baths, in-unit laundry, attached individual garages, additional driveway parking, and access to a shared yard area. Major capital improvements including roof, windows, and siding have already been completed, creating a low-maintenance investment opportunity. All three units are currently leased with historically low vacancy, providing stable in-place income from day one. Zoned R-10, the property offers future development potential and operational flexibility for a variety of residential investment strategies. Featuring a 5.60% actual cap rate with upside to a projected 6.96% proforma cap rate and an attractive 11.37 proforma GRM, this asset presents a compelling opportunity for investors seeking stable cash flow, rental upside, and long-term demand. Conveniently located just minutes from downtown Auburn, major commuter routes, and Green River College.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $935,000 |
| No. of Units: | 3 |
| Year Built: | 1989 |
| Lot Size: | 0.32 Acres |
| Opportunity Zone: | No |
| Price per unit: | $311,667 |
| Property Website | Click Here |
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