739 S 3rd Ave - Apartments FOR SALE


Kent, WA 98032- South Kent
$1,995,000 USD
206-773-2694
739 S 3rd Ave, Kent, WA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/20
null | 6.65% Cap Rate

739 S 3rd Ave
Kent, WA 98032
South Kent


OVERVIEW

The Lee & Associates NW Multifamily Team is pleased to present the exclusive listing of Watson Manor Apartments, an 11-unit apartment building located in the heart of Kent,. Situated just south of Kent Station and minutes from SR-516, the property offers tenants suburban livability with seamless access to major employment centers throughout the region. Watson Manor is a rare opportunity to acquire a 100% vacant asset, providing investors with complete operational flexibility from day one. Unlike typical acquisitions encumbered by legacy leases, below-market rents, or deferred repositioning timelines, this property allows a new owner to immediately execute their business plan and fully capture current market dynamics. The asset represents a true “choose your own adventure” opportunity — whether the strategy is a light cosmetic refresh and lease-up, a comprehensive interior renovation to achieve premium rents, or a thoughtful reconfiguration to maximize unit efficiency. With no tenant rollover risk or displacement considerations. Beyond the immediate ability to re-tenant at today’s market rates, the property offers compelling upside through strategic improvements and potential reconfiguration. Explore converting the existing laundry area into an additional unit, or redesigning select layouts to create larger family-sized units, increasing rentable square footage and overall revenue potential!

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$194 USD /SF

# OF UNITS

10

PRICE/UNIT

$199,500

CAP RATE

6.65%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Watson Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,377 SF

ZONING

MR-D

APN/PARCEL ID

919710-0160

ASK ABOUT THIS PROPERTY

Candice Chevaillier, CCIMLee & Associates Commercial Real Estate ServicesMore Info
206-773-2694

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Candice Chevaillier, CCIMLee & Associates Commercial Real Estate ServicesMore Info
206-773-2694

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