501 37th St SE - Apartments FOR SALE


Auburn, WA 98002- South Auburn
$1,100,000 USD
206-399-3285
501 37th St SE, Auburn, WA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/13
null | 5.49% Cap Rate

501 37th St SE
Auburn, WA 98002
South Auburn


HIGHLIGHTS

  • PROXIMITY TO EMPLOYMENT HUBS
  • GREAT NEARBY AMENITIES
  • HIGH WALKABILITY SCORE

OVERVIEW

The Investment Sales Group at Compass Commercial is thrilled to present this attractive 4-unit multifamily property at 501 37th St SE, Auburn, WA. Each unit features a spacious 2-bedroom, 1.5-bathroom layout with 1,016 square feet, offeringcomfortable living in a prime suburban location near Seattle-Tacoma amenities. The property currently boasts a solid capitalization rate of 5.49%, reflecting strong immediate income potential. With scheduled rent increases effective December 1, 2025, the cap rate is projected to rise to 5.91%, enhancing returns and positioning this asset as an excellent value-add opportunity in a stable, growing market. The building was newly painted in September 2025 and features durable metal roofs, W/D hookups, large back patios with extra storage, ensuring low maintenance and enhanced curb appeal. Seller financing is available to qualified buyers, providing flexible acquisition options. For more details or to discuss this opportunity further, please reach out to the Investment Sales Group at Compass Commercial

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$116 USD /SF

# OF UNITS

4

PRICE/UNIT

$275,000

CAP RATE

5.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

302105-9270

ASK ABOUT THIS PROPERTY

Erich BubbelCOMPASSMore Info
206-399-3285

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Erich BubbelCOMPASSMore Info
206-399-3285

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