New ListingExcellent investment opportunity in Kent's desirable Lake Fenwick area! This 1962-built duplex sits on a .165-acre lot and currently generates $3,300/month in combined rental income from long-term leases. Unit 4804 offers 1 bedroom/1 bath, leased at $1,600/month through 10/31/2027. Unit 4806 offers 2 bedrooms/1 bath, leased at $1,700/month through 11/30/2027 - giving a new owner immediate, stable cash flow with both leases secured well into 2027. Featuring wood exterior siding, a composition roof, and a poured concrete foundation, the property has been thoughtfully updated with newer cabinetry, stainless steel appliances, tile backsplash, in-unit washer/dryer, and updated bathroom finishes with a tiled walk-in shower. Enjoy hardwood-look flooring throughout, baseboard heating, and a peaceful territorial view from the patio. Public water and sewer connection add convenience, and paved street access makes for easy showings. Currently tenant-occupied - please allow appointment notice and renter-call-first protocol for all showings. Located minutes from I-5, SR-509, and WA-516, with quick access to Kent's shopping, dining, and commuter routes. Don't miss this cash-flowing opportunity in a strong rental market!
| MLS # | 2583032 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 5 |
| Listing Provided By | Washington Realty Group | Jim Clifford |
| SQ Feet | 1,300 |
|---|---|
| Story(s) | 1 |
| Units | 2 |
| Acreage | 0.17 |
| Property View | Yes |
| Property | 4545 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Kent |
| Zip Code | 98032 |
| Area | 120 Des Moines | Redondo |
| Community Name | Lake Fenwick |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in Lake Fenwick) | |
Price: $585,000 low | high Med: $365,000 sqft: 1,300 low | high Med: 1,064 $ / sqft: $450 low | high Med: $343 On site: 5 low | high Med: 83 | |
| State | WA |
|---|---|
| County | King |
| City | Kent |
| Zip Code | 98032 |
| Area | 120 Des Moines | Redondo |
| Community Name | Lake Fenwick |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in Lake Fenwick) | |
Price: $585,000 low | high Med: $365,000 sqft: 1,300 low | high Med: 1,064 $ / sqft: $450 low | high Med: $343 On site: 5 low | high Med: 83 | |