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(253) 256-5270
My Q Homes with Wilcox Real Estate
1019 18th Street NE, Auburn, WA 98002
- $925,000
Listing Broker: Lee & Associates Commercial RE; Nisha A Tomar; 253-722-9203; ntomar@lee-associates.com
- List Price
- $925,000
- Status
- ACTIVE
- MLS#
- 2592953
- Days on Market
- 229
- Style
- 53 - Tri-plex
- Building Condition
- Very Good
- Annual Tax Ammount
- 7768
- Lot Size (sq ft)
- 14,010
- Sewer
- Available
Property Description
Calling all investors and owner-occupant buyers! With a cap rate of 7.35%, this townhome-style triplex in Meadow Brooke Estates combines rental income, rental upside, and future development potential. An owner-occupant could live in one unit while renting the other two. Located near North Auburn’s schools, restaurants, and shopping, the property offers approximately 3,560 rentable SF across three spacious units, each featuring 2 bedrooms plus a den, 1.5 baths, in-unit laundry, an attached garage, driveway parking, and access to a shared yard. Unit C recently done and Unit A was remodeled last year. Annual net operating income is reported at $67,923, with pro forma NOI of $72,483 reflecting potential rental increases. Situated on a 14,010 SF lot with R-10 zoning, the property also offers potential for future residential development, subject to City approval. Convenient access to downtown Auburn, major highways, and Green River College makes this an appealing opportunity for investors and buyers seeking a home with rental income potential.
Additional Information
- List Date
- 2026-02-26 20:43:12
- Community
- Auburn
- Net Operating Income
- $67,923
- Gross Adjusted Income
- $74,157
- Gross Scheduled Income
- $78,060
- Total Monthly Income
- $7,085
- Insurance Expenses
- $2,153
- Water/Sewer/Garbage Expenses
- $7,176
- Gross Rent Multiplier
- 10.88
- Total Expenses
- $17,097
- Cap Rate
- 7.34
- Vacancy Rate
- 5
- Total Number of Units
- 3
- Unit Name
- 1019
- Potential Terms
- Cash, Conventional
- Year Built
- 1989
- Roof
- Composition
- Energy Source
- Electric
- School District
- Auburn
- Total Monthly Income
- $7,085
- Gross Scheduled Income
- $78,060
- Vacancy Rate
- 5
- Gross Adjusted Income
- $74,157
- Tax Year
- 2026
- Insurance Expense
- $2,153
- W/S/G Expenses
- $7,176
- Total Expenses
- $17,097
- Net Operating Income
- $67,923
- Gross Rent Multiplier
- 10.88
- Cap Rate
- 7.34
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.