Pending · Residential Income

739 3rd Avenue S, Kent, WA 98032

Kent, WA 98032

$1,995,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Lee & Associates Commercial RE · MLS #2491414 · Pending

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About this property

Watson Manor Apartments is a 10-unit apartment building located in the heart of Kent. Situated just south of Kent Station and minutes from SR-516, the property offers tenants suburban livability with seamless access to major employment centers throughout the region. Watson Manor is a rare opportunity to acquire a 100% vacant asset, providing investors with complete operational flexibility from day one. Unlike typical acquisitions encumbered by legacy leases, below-market rents, or deferred repositioning timelines, this property allows a new owner to immediately execute their business plan and fully capture current market dynamics. The asset represents a true “choose your own adventure” opportunity — whether the strategy is a light cosmetic refresh and lease-up, a comprehensive interior renovation to achieve premium rents, or a thoughtful reconfiguration to maximize unit efficiency. With no tenant rollover risk or displacement considerations. Beyond the immediate ability to re-tenant at today’s market rates, the property offers compelling upside through strategic improvements and potential reconfiguration. Explore converting the existing laundry area into an additional unit, or redesigning select layouts to create larger sized units, increasing rentable square footage and overall revenue potential. NOTE - All income and expense items are based on proforma - property will be delivered vacant at close.

Property details

Property type: Multi Family
Year built: 1969
Lot size: 15,363 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $18,065 (2026)
Parking spaces: 10
School district: Kent

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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