Prepared by https://www.commercialmls.com
31624 W Rutherford Street
31624 W Rutherford St Carnation WA 98014
Listing #: 715148 | Status: Available | Last Modified: 7/10/2026
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 108,797 |
| Vacancy Factor % | 1.00% |
| Operating Expenses | 33,394 |
| Net Operating Income | 74,315 |
| CAP Rate | 5.48 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 5.484 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 2 |
| # of Units | 6 |
| Total Building SF | 3,936 SF |
| Net Rentable Area | 3,936 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 15,152 SF |
| Acres | 0.35 |
| Year Built | 1964 |
| Construction Type | Framed |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Location | |
|---|---|
| County | King |
| Market Area | Snoqualmie/N.Bend |
| Tax ID # | 8658302975 |
| Zoning | R24 |
| Parking Information | |
|---|---|
| #Covered Spaces | 0 |
| # Uncovered Spaces | 12 |
| Total Parking Spots | 12 |
Carnation 6-Unit
Rare opportunity to acquire a six-unit apartment building in Carnation. Seller financing offered with ~35% down and interest-only payments during the first year, allowing the new owner to maximize cash flow while renovating units, increasing rents, and stabilizing the property before principal payments begin. 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 approximately 40% below projected market rents following renovations, creating exceptional value-add potential. Additional income is generated through the on-site common laundry, and current 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, just minutes from Snoqualmie, with convenient access to SR 520, Microsoft, Redmond, and Bellevue. A compelling opportunity to acquire a value-add multifamily asset with flexible financing, strong upside, and long-term appreciation potential in one of King County's most supply-constrained rental markets.
31624 W Rutherford Street
31624 W Rutherford St Carnation WA 98014
Listing #: 715148 | Status: Available | Listing Date: 7/9/2026 | Last Modified: 7/10/2026 | Email Listing
For Sale
31624 W Rutherford Street
