324 6th Ave S - Apartments FOR SALE


Kirkland, WA 98033- Moss Bay
$2,588,000 USD
206-406-9105
324 6th Ave S, Kirkland, WA for Sale
$2,588,000 USD
Apartments - FOR SALE
1/17
null | 3.87% Cap Rate

324 6th Ave S
Kirkland, WA 98033
Moss Bay


HIGHLIGHTS

  • Centrally located in Kirkland’s desirable Moss Bay neighborhood
  • Four 2-bedroom, 1-bath (850 SF) units and one studio (450 SF) unit
  • Washer/Dryer in all four 2-bedroom units; dedicated washer/dryer for the studio directly adjacent in the storage room
  • Storage lockers for every unit, currently provided at no charge - additional income opportunity
  • Blocks from Google’s Kirkland Urban and 6th Street campuses and a short walk to downtown Kirkland’s waterfront, Marina Park, restaurants, and shops
  • Extensive unit upgrades over the past 10 years including LVP flooring, upgraded countertops, contemporary cabinetry, and full bathroom renovations

OVERVIEW

Small apartment buildings of this quality rarely come to market in Kirkland, where constrained supply and strong renter demand continue to support long-term appreciation. Originally constructed in 1962, the property sits on a 10,000 square foot lot zoned PLA 6E and consists of four two-bedroom, one-bathroom units at 850 square feet each and one 450 square foot studio. Each unit has been extensively upgraded over the past 10 years, with improvements including LVP flooring, upgraded countertops, contemporary cabinetry, and full bathroom renovations, while the studio underwent a complete renovation in 2025. These updated interiors continue to drive strong tenant demand. All four two-bedroom units feature in-unit washers and dryers, and the studio has a dedicated washer and dryer directly adjacent in the storage room. Each unit also has its own storage locker, currently provided at no charge, presenting an additional income stream for a new owner. The four two-bedroom units also include their own balconies. Parking includes four covered stalls, which are currently offered free to tenants, offering further upside. The property presents a compelling investment opportunity, currently generating $11,875 per month in gross rental income and delivering strong in-place cash flow from day one, with long-term stability anchored by recent upgrades and a highly sought-after rental location. Situated in Kirkland’s Moss Bay neighborhood, the property sits just blocks from Google’s Kirkland Urban and 6th Street campuses and within a short walk of downtown Kirkland’s waterfront, Marina Park, and its established mix of restaurants and shops. The adjacent Cross Kirkland Corridor provides six miles of walking and biking trails, while quick access to I-405 puts Bellevue and Seattle within an easy commute. This combination of nearby employment, walkability, and amenities continues to support strong tenant demand and long-term rental growth.

FOR SALE DETAILS

PRICE

$2,588,000 USD

PRICE/SF

$692 USD /SF

# OF UNITS

5

PRICE/UNIT

$517,600

CAP RATE

3.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kirkland 5 Unit

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1962

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,001 SF

ZONING

PLA 6E

APN/PARCEL ID

180790-0365

ASK ABOUT THIS PROPERTY

Rowan DavisParagon Real Estate AdvisorsMore Info
206-406-9105

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Rowan DavisParagon Real Estate AdvisorsMore Info
206-406-9105

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.