Active · Residential Income

412 Mill Avenue S, Renton, WA 98057

Renton, WA 98057

$1,550,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Westlake Associates, Inc. · MLS #2566463 · Active

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About this property

Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.

Property details

Property type: Multi Family
Year built: 1966
Lot size: 5,090 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $17,505 (2026)
Parking spaces: 2
School district: Renton

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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