31624 W Rutherford St
Carnation WA 98014
31624 W Rutherford Street
31624 W Rutherford St Carnation WA 98014
Listing #: 715148 | Status: Available | Last Modified: 7/10/2026 |
For Sale
- Phone:(206) 931-6036
- Email:charles@soundrealtygroup.com
- Office Name:Real Broker LLC
- Office Phone:(630) 768-4386
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 1,375,000.0
- $/SF$ 349.3
- $/Unit$ 1,375,000.0
- Listing StatusAvailable
- Days on Market1
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income108,797
- Vacancy Factor %1.00%
- Operating Expenses33,394
- Net Operating Income74,315
- CAP Rate 5.48 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.48 %
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units6
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF3936
- Net Rentable Area3936
- Total Office SF
- Largest Contiguous SF
- Lot SF15152
- Acres0.35
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaSnoqualmie/N.Bend
- Tax ID #8658302975
- Additional Parcels
- ZoningR24
- # Covered Spaces0
- # Uncovered Spaces12
- Total Parking Spots12
- Parking Ratio
- Year Built1964
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeFramed
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.
