1003 N 1st Street, Renton, WA 98057

Listing Firm: Paragon Real Estate Advisors (206-623-8880). Listings with the three tree icon are courtesy of NWMLS.

1003 N 1st Street

Renton, WA 98057

LISTING #2526901

REQUEST DETAILS SCHEDULE A SHOWING

$1,450,000

STATUS Pending

YEAR BUILT 1929

PROPERTY TYPE Residential Income

ABOUT THIS PROPERTY

This is a rare opportunity to acquire The Riverside Apartments, a classic building located at 1003 N 1st Street, just blocks from downtown Renton. This 13-Unit property offers investors the opportunity to own a character-rich multifamily property in a tightly held Renton location. The Riverside Apartments feature a mix of studio and one-bedroom units. Current in-place rents average $1,229 for studios and $1,284 for one-bedroom units, while comparable properties in Renton are achieving $1,350-$1,450 for studios and $1,400-$1,550 for one-bedrooms. This gap presents a clear opportunity for a new owner to capture meaningful rental upside through light interior renovations and operational improvements at an attractive price per unit. Ideally located just minutes from downtown Renton, The Landing, and Boeing’s Renton facility, with immediate access to I-405, Highway 167, and the Cedar River Trail, the Riverside Apartments are strategically positioned in a high-demand rental corridor. The property offers a compelling combination of strong in-place income and clear rental upside, supported by a deep and stable employment base and continued demand for well-located housing in the area.

PROPERTY DETAILS

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Location Information

County King

Community Renton / Newcastle

Latitude 47.483263

Longitude -122.203468

Directions Get on I-5 S. Take exit for I-405 S. Exit towards Ranier Ave S. Turn right onto N 3rd St. Turn right onto Williams Ave N. Turn left onto N 1st St. Destination is on the right.

Subdivision Name Renton

Interior Features

Has Fireplace No

Number of Fireplaces 0

Heating Wall Furnace

Cooling None

Floors Carpet

Exterior Features

Style 10+ Units

Is New Construction Yes

Exterior Brick

Foundation Poured Concrete

Roof Flat

Water Source Public

Septic or Sewer Sewer Connected

Covered Spaces 0

Power Production Type Electric

Parking Spaces 0

Lot Size in Acres 0.1552

Lot Size in Sq. Ft. 6,760

Building Total Area 6735 Square Feet

Has Waterfront No

Has View No

School

High School District Renton

Additional Information

Possession Closing, Subject To Tenant Rights

Property Type Residential Income

Property Subtype Multi Family

Structure Type Multi Family

Year Built 1929

Status Pending

Tax Year 2025

Tax Amount $29,135

Lot Acres Source Public Records

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