Active · Residential

24029 24th Avenue S, Des Moines, WA 98198

Des Moines, WA 98198

$699,000

5 bedrooms · 5 bathrooms · 2,650 sq ft

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Listing provided by Keller Williams Rlty Bellevue · MLS #2542068 · Active

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About this property

Exceptional opportunity for homeowners and investors alike! This versatile 5-bedroom, 4.5-bath property offers strong income potential, flexible living arrangements, and future development possibilities on a generous lot. With separate entrances for both levels, it's ideal for multigenerational living, owner-occupants seeking rental income, or savvy investors. The main level features a gourmet kitchen, spacious living areas, and three generously sized bedrooms with two full bathrooms. The lower level offers multiple income-producing units, each with its own bathroom, while the larger unit includes a full kitchen. Currently partially rented on a month-to-month basis, the property has the potential to generate approximately $6,000 per month in rental income, including about $3,000 from each level. With a projected cap rate approaching 6%, this is a rare investment opportunity in a desirable location. Situated on a large lot surrounded by established single-family homes and attractive new construction, the property offers immediate cash flow and long-term upside. Explore the potential to build your dream home while collecting rental income from the existing residence. Also listed as a duplex, this unique offering provides exceptional flexibility and value. Conveniently located within walking distance to the light rail station, with easy access to shopping, dining, and major employment centers, this is an opportunity you won't want to miss.

Property details

Property type: Single Family Residence
Year built: 1959
Lot size: 13,765 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $8,499 (2026)
Parking spaces: 4
School district: Highline

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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