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506 1st St SW

21 Unit Apartment Building $1,443,929 CAD ($68,759 CAD/Unit) 6.33% Cap Rate Auburn, WA 98001

Executive Summary

Priced to sell! The Knickerbocker Mansion 6-plex is an investment opportunity in the heart of Auburn's you won't want to miss! Property is 100% rented. Potential to expand investment w/triple lot. Look into adding or building an ADU. 1st floor units have original millwork & tall ceilings. Upstairs units clean w/updated flooring & paint. Efficiency upgrades-basement & attic insulation. Endless positives to boast about with spacious layout providing comfortable living space for tenants to enjoy. Newer electrical panel. Updates: boilers in 2021, Roof in 2020 & shared coin-operated laundry area w/newer machines for addl income. Plenty of storage space for each unit. Within minutes to restaurants, lightrail & entertainment. Make an offer today!

Financial Summary (Actual - 2024)

Annual (CAD) Annual Per SF (CAD)
Taxes $16,709 $4.11
Operating Expenses $338,905 $83.31
Total Expenses $355,614 $87.42

Financial Summary (Actual - 2024)

Taxes (CAD)
Annual $16,709
Annual Per SF $4.11
Operating Expenses (CAD)
Annual $338,905
Annual Per SF $83.31
Total Expenses (CAD)
Annual $355,614
Annual Per SF $87.42

Property Facts

Price $1,443,929 CAD
Price Per Unit $68,759 CAD
Sale Type Investment
Cap Rate 6.33%
No. Units 21
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.41 AC
Building Size 4,068 SF
Average Occupancy 100%
No. Stories 2
Year Built 1906
Parking Ratio 1.23/1,000 SF

Unit Amenities

  • Fireplace

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 1 $2,253 CAD 700
Studios 2 $1,509 CAD -
Studios 3 $1,552 CAD -
1+1 4 $1,733 CAD -
1+1 5 $2,297 CAD -
Studios 6 $2,086 CAD -
Bike Score ®
Very Bikeable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
391500-0340
Land Assessment
$259,236 CAD (2023)
Improvements Assessment
$1,078,710 CAD (2023)
Total Assessment
$1,337,946 CAD (2023)
Annual Taxes
$16,709 CAD ($4.11 CAD/SF)
Tax Year
2024

zoning

Zoning Code R-4, Auburn
R-4, Auburn
  • Listing ID: 34280718

  • Date on Market: 2024-12-23

  • Last Updated:

  • Address: 506 1st St SW, Auburn, WA 98001

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