31624 W Rutherford Street, Carnation, WA 98014

Property Description

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.

Listing Status:

Active

Data Last Updated:

July 5, 2026 at 3:20PM

Listing Office:

Real Broker LLC : 855-450-0442

Listing Agent:

Charles Burnett : 855-450-0442

MLS ID:

2542138

Interior

• Flooring: VinylCarpet
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: Wood
• Parking: Parking spaces: 12

Construction

• Roofing: Torch Down
• General: 55 - 5-9 UnitsPoured Concrete

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Riverview
• County: King

Lot

• Zoning: 8658302975
• View: TerritorialView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls