$1,299,900
 $6,978 est/mo Sourced by Back At You

31624 W Rutherford Street,Carnation, WA 98014

Carnation, WA 98014

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Description

RARE OPPORTUNITY TO ACQUIRE A SIX-UNIT APARTMENT BUILDING IN DOWNTOWN CARNATION. SELLER FINANCING OFFERED. Situated on a 15,152 SF corner lot with R-24 zoning, the property offers future expansion or redevelopment potential (buyer to verify), adding long-term value beyond the existing improvements. Unit mix consists of (3) 2-bedroom and (3) 1-bedroom units. Long-term month-to-month tenants provide flexibility for future improvements and repositioning. CURRENT RENTS ARE WELL BELOW PROJECTED MARKET RENTS FOLLOWING RENOVATIONS, creating significant value-add potential. Additional income is generated through on-site common laundry, and tenants reimburse the owner for utilities, helping offset operating expenses. Additional features include ample parking, a roof with substantial remaining useful life, and recently replaced upper decks. Ideally located in downtown Carnation, minutes from Snoqualmie with convenient access to SR 520, Redmond, Bellevue, and Microsoft. A COMPELLING VALUE-ADD MULTIFAMILY OPPORTUNITY WITH FLEXIBLE SELLER FINANCING, STRONG RENTAL UPSIDE, AND LONG-TERM REDEVELOPMENT POTENTIAL IN ONE OF KING COUNTY'S MOST SUPPLY-CONSTRAINED RENTAL MARKETS.

Details

MLS #2580823
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1964
Days On Site14
Listing Provided ByReal Broker LLC | Charles Burnett

Features

SQ Feet3,936
Story(s)2
Units6
ZoningMulti-Family,Residential
Acreage0.35
Property ViewYes

Taxes

Property9192

Area Information

StateWA
CountyKing
CityCarnation
Zip Code98014
Area550 Redmond | Carnation
Community NameCarnation
Listing VS Median (in Carnation)
Price:
$1,299,900
low | high
Med:
$919,995
79.225709669975% of Average
sqft:
3,936
low | high
Med:
2,238
93.140243902439% of Average
$ / sqft:
$330
low | high
Med:
$411
25.528325853896% of Average
On site:
14
low | high
Med:
314
4.458598726115% of Average
Sourced by Back At You

Market Activity 98014

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Learn More About This Property

StateWA
CountyKing
CityCarnation
Zip Code98014
Area550 Redmond | Carnation
Community NameCarnation
Listing VS Median (in Carnation)
Price:
$1,299,900
low | high
Med:
$919,995
79.225709669975% of Average
sqft:
3,936
low | high
Med:
2,238
93.140243902439% of Average
$ / sqft:
$330
low | high
Med:
$411
25.528325853896% of Average
On site:
14
low | high
Med:
314
4.458598726115% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $974K - $1.624M
sqft: 2,500 - 4,500
Nearby Listings Property ImageNearby Listings Details
31616 NE 55th Street Property Photo 1
$1,425,000
31616 Ne 55th Street
Carnation, WA 98014
Listing Updated: September 22, 2026 at 8:45:17 AM PDT