412 Mill Avenue S, Renton, WA 98057

Property Description

Mill Avenue Apartments is a low-maintenance 8-unit multifamily in-vestment well suited for a private investor. The property offers eight 1-bedroom / 1-bath corner units (±649 SF), four of which include in-unit washer and dryer, along with common laundry on-site. It is located on a quiet hilltop street with excellent territorial views and sits a stone’s throw from downtown Renton, with convenient access to downtown Seattle’s CBD. Built in 1966 with a low-maintenance brick facade and a full EPDM roof replacement in 2017, the asset is offered at $1,550,000 ($193,750 per unit). Current rents sit below market, providing clear upside with limited capital required and an easily achievable market cap rate of 6.41%. Demand is supported by Boeing’s approximately 12,600-person Renton workforce, Blue Origin’s Kent operations, and the broader Kent Valley employment base of over 230,000 jobs. The property features simple operations and convenient access to freeways, Sea-Tac Airport, parks, and everyday amenities.

Listing Status:

Active

Data Last Updated:

September 23, 2026 at 7:19AM

Listing Office:

Westlake Associates, Inc. : 206-505-9400

Listing Agent:

David W Petersen : 206-300-8909

MLS ID:

2566463

Interior

• Flooring: Ceramic TileVinyl Plank
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: BrickWood
• Parking: Parking spaces: 2

Construction

• Roofing: Flat
• General: 55 - 5-9 Units

Location

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

Lot

• Zoning: 7231500310
• View: PartialTerritorialView

Utilities

• Sewer: Sewer Connected

Financial

• Source: nwmls