Centrally located in the heart of Downtown Kent--this presents a compelling opportunity to acquire a highly visible mixed-use property, with 7% of its units having undergone renovation since 2021. The prospective owner not only inherits the stability of existing retail tenants but also possesses the value-add potential to renovate the remaining apartment units and bring all the rents to market. The Melbourne Building boasts a versatile design, featuring three leased retail spaces on the ground floor and five apartment units on the top floor. All three retail units have been leased and undergone comprehensive interior renovations within the past two years.
The Green Tree Court Apartments is an attractive and updated 17-unit community in a dynamic Kent location with lots of remaining upside and value-add potential. This two-story, garden-style community is comprised of 15 - 1BD/1BA and two - 2BD/1BA units. The property is conveniently located near the Kent Station retail mall and commuter rail. Built in 1968, the property has been well-maintained with many recent improvements including a new mansard roof, new doors and windows, and new exterior paint. In addition, 9 of the 17 units have been renovated, including new kitchen cabinets and quartz countertops, new solid surface flooring, upgraded appliances, and new bathroom vanities and tub surrounds.
2 Kitchens, 2 sets of W&D, one in each level, couple of blocks away from Renton city limit, completely remolded in 2023 & 2024 and move in ready, Brite and light filled living room, open kitchen with new countertops, 3 Three-quarter Baths. Master Bedroom in the upper level. Each level has its own entrance, Live in one and rent the other if you like. Good size backyard for your gatherings, all appliances stay, shed in the backyard stay, Great value in a great location
Kent is located in Washington. Kent, Washington has a population of 126,561. Kent is less family-centric than the surrounding county with 34.41% of the households containing married families with children. The county average for households married with children is 35.76%.
The median household income in Kent, Washington is $64,573. The median household income for the surrounding county is $83,571 compared to the national median of $57,652. The median age of people living in Kent is 34.1 years.
The average high temperature in July is 77.7 degrees, with an average low temperature in January of 36.3 degrees. The average rainfall is approximately 45.1 inches per year, with 6.8 inches of snow per year.