Courtesy: Real Broker LLC
855-450-0442
Charles Burnett
RARE OPPORTUNITY TO ACQUIRE A SIX-UNIT APARTMENT BUILDING IN DOWNTOWN CARNATION. SELLER FINANCING OFFERED. 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 WELL BELOW PROJECTED MARKET RENTS FOLLOWING RENOVATIONS, creating significant value-add potential. Additional income is generated through on-site common laundry, and 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, minutes from Snoqualmie with convenient access to SR 520, Redmond, Bellevue, and Microsoft. A COMPELLING VALUE-ADD MULTIFAMILY OPPORTUNITY WITH FLEXIBLE SELLER FINANCING, STRONG RENTAL UPSIDE, AND LONG-TERM REDEVELOPMENT POTENTIAL IN ONE OF KING COUNTY’S MOST SUPPLY-CONSTRAINED RENTAL MARKETS.
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Carnation is located in Washington. Carnation, Washington has a population of 2,219. Carnation is more family-centric than the surrounding county with 38.93% of the households containing married families with children. The county average for households married with children is 35.99%.
The median household income in Carnation, Washington is $123,158. The median household income for the surrounding county is $106,326 compared to the national median of $69,021. The median age of people living in Carnation is 40.7 years.
The average high temperature in July is 76 degrees, with an average low temperature in January of 35.3 degrees. The average rainfall is approximately 49.9 inches per year, with 3.1 inches of snow per year.
