506 1st St SW
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506 1st St SW
21 Unit Apartment Building $999,999 ($47,619/Unit) 6.33% Cap Rate Auburn, WA 98001
Executive Summary
Priced to sell! The Knickerbocker Mansion 6-plex is an investment opportunity in the heart of Auburn's you won't want to miss! Property is 100% rented. Potential to expand investment w/triple lot. Look into adding or building an ADU. 1st floor units have original millwork & tall ceilings. Upstairs units clean w/updated flooring & paint. Efficiency upgrades-basement & attic insulation. Endless positives to boast about with spacious layout providing comfortable living space for tenants to enjoy. Newer electrical panel. Updates: boilers in 2021, Roof in 2020 & shared coin-operated laundry area w/newer machines for addl income. Plenty of storage space for each unit. Within minutes to restaurants, lightrail & entertainment. Make an offer today!
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$11,572
|
$2.84
|
| Operating Expenses |
$234,710
|
$57.70
|
| Total Expenses |
$246,282
|
$60.54
|
Financial Summary (Actual - 2024)
| Taxes | |
|---|---|
| Annual | $11,572 |
| Annual Per SF | $2.84 |
| Operating Expenses | |
|---|---|
| Annual | $234,710 |
| Annual Per SF | $57.70 |
| Total Expenses | |
|---|---|
| Annual | $246,282 |
| Annual Per SF | $60.54 |
Property Facts
| Price | $999,999 | Building Class | C |
| Price Per Unit | $47,619 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 4,068 SF |
| Cap Rate | 6.33% | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1906 |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Apartment Style | Low Rise |
| Price | $999,999 |
| Price Per Unit | $47,619 |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 4,068 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1906 |
| Parking Ratio | 1.23/1,000 SF |
Unit Amenities
- Fireplace
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,560 | 700 |
| Studios | 2 | $1,045 | - |
| Studios | 3 | $1,075 | - |
| 1+1 | 4 | $1,200 | - |
| 1+1 | 5 | $1,591 | - |
| Studios | 6 | $1,445 | - |
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Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 391500-0340 | Total Assessment | $929,000 (2023) |
| Land Assessment | $180,000 (2023) | Annual Taxes | $11,572 ($2.84/SF) |
| Improvements Assessment | $749,000 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
391500-0340
Land Assessment
$180,000 (2023)
Improvements Assessment
$749,000 (2023)
Total Assessment
$929,000 (2023)
Annual Taxes
$11,572 ($2.84/SF)
Tax Year
2024
zoning
| Zoning Code | R-4, Auburn |
| R-4, Auburn |
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506 1st St SW
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