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501 21st Street SE, Auburn, WA 98002

(Closed)
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Listed by: Rachel Harwood - COMPASS

501 21st Street SE, Auburn, WA 98002

$
Closed
est.$2,070,000/month.
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beds. baths. 40,117 Sqft.

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501 21st Street SE, Auburn, WA 98002

$2,070,000
Closed
est.$2,070,000/month.
Start My Approval
beds baths 40,117 Sq.ft.
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Property details for 501 21st Street SE, Auburn, WA 98002
Turnkey 8-unit multifamily investment with strong returns and future upside. Each spacious 2BD/1BA unit has been extensively renovated with luxury vinyl plank flooring, stainless steel appliances, and updated fixtures. Major capital improvements—including new roofs, furnaces, and water heaters—eliminate deferred maintenance. Tenants enjoy private garages, in-unit laundry, and large shared fenced yards. Ideally located between Seattle and Tacoma, close to walkable schools, transit, and major employers. The Kent/Auburn submarket saw 95.3% occupancy in the Q1 2025 and is projected for effective rent increases of 4.2% through 2025. Offers a true 7.3% cap rate with potential for income growth. Optional portfolio sale w/ nearby 7-unit MLS#2394374
Broker details: COMPASS

Listed by: Rachel Harwood
Buyer Office: ZNonMember-Office-MLS
Buyer Agent: Non ZDefault
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Property Description

MLS Information

  • Listing: 2394373
  • Listing Last Modified: 2026-01-18

Property Details

  • Standard Status: Closed
  • MLS Status: Sold
  • Built in: 1973
  • Subdivision: Auburn

Geographic Data

  • County: King
  • MLS Area: Auburn
  • Directions: North on A St SE, Right onto 21st St SE, Property on Left
Features

Interior Features

  • Flooring: Carpet, Vinyl

Exterior Features

  • Roof type: Composition
  • Lot description: Paved

Parking

  • Garage spaces: 8

Utilities

  • Water: Public
  • Heating: Electric, Baseboard
Property Information

Tax Information

  • Tax Annual Amount: $16,110

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Disclaimer

Based on information submitted to the MLS GRID as of Fri Mar 27 2026 (7.00 AM). IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. 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. The three tree icon represents listings courtesy of NWMLS.
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Home Description

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