412 Mill Avenue, Renton, WA 98057

Listing Firm: Westlake Associates, Inc. (206-505-9400). Listings with the three tree icon are courtesy of NWMLS.

412 Mill Avenue

Renton, WA 98057

LISTING #2566463

REQUEST DETAILS SCHEDULE A SHOWING

$1,550,000

STATUS Active

YEAR BUILT 1966

PROPERTY TYPE Residential Income

ABOUT THIS PROPERTY

Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.

PROPERTY DETAILS

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Location Information

County King

Community Renton / Newcastle

Latitude 47.477557

Longitude -122.202637

Directions From I-405, take Exit 2A (WA-900 W/Sunset Blvd N) toward Downtown Renton. Continue onto S 3rd St, turn right on Mill Ave S. Proceed south approx. 0.3 miles, site on left side of street.

Subdivision Name Renton

Interior Features

Has Fireplace No

Number of Fireplaces 0

Heating Baseboard

Cooling None

Floors Ceramic Tile, Vinyl Plank

Exterior Features

Style 5-9 Units

Is New Construction Yes

Exterior Brick, Wood

Roof Flat

Septic or Sewer Sewer Connected

Covered Spaces 0

Power Production Type Electric

Security Features Partially Fenced

Parking Spaces 2

Site Features Fenced-Partially

Lot Features Alley, Curbs, Paved, Sidewalk

Lot Size in Acres 0.1169

Lot Size in Sq. Ft. 5,090

Building Total Area 5196 Square Feet

Has Waterfront No

Has View Yes

View Description Partial, Territorial

School

High School District Renton

Additional Information

Possession Closing

Property Type Residential Income

Property Subtype Multi Family

Structure Type Multi Family

Year Built 1966

Status Active

Tax Year 2026

Tax Amount $17,505

Lot Acres Source KCA

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