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Rare fully-renovated 4-plex offering immediate cash flow and a clear value-add path — plus a $10,000 seller credit toward closing costs or a rate buy-down, accretive to day-one returns. Three of four units are fully remodeled and turnkey — Units 505 & 507 are tenant-occupied, and Unit 503 has been completely renovated to the same standard (new cabinets, quartz counters, tile bath, LVP flooring) and is move-in ready, with multiple rental inquiries already in hand at an estimated $1,900/mo. Units 503 & 507 also feature new water heaters, with Unit 505's water heater installed in 2019 — added peace of mind on mechanicals. Once leased, projected NOI reaches approximately $50,000+ on gross scheduled income of $66,671. Unit 509 is unfinished and represents additional built-in upside: convert to a 1-bed for an estimated $1,200/mo, pushing the cap rate toward 6%+ with minimal capital outlay. Exterior fully updated — new siding, new paint, front half of roof replaced, plumbing & electrical upgrades completed. Separate legal address on Unit 509 adds flexibility for a refinance. Huge .29-acre lot, 8+ off-street parking spaces, strong Sultan rental demand. Also ideal for an owner-occupant buyer: move into vacant, fully-remodeled Unit 503 with low-down-payment FHA or VA financing and let 505 & 507 help cover the mortgage — turnkey house-hacking made easy.

2549035 MLS ⋅ ACTIVE Status

Rare fully-renovated 4-plex offering immediate cash flow and a clear value-add path — plus a $10,000 seller credit toward closing costs or a rate buy-down, accretive to day-one returns. Three of four units are fully remodeled and turnkey — Units 505 & 507 are tenant-occupied, and Unit 503 has been completely renovated to the same standard (new cabinets, quartz counters, tile bath, LVP flooring) and is move-in ready, with multiple rental inquiries already in hand at an estimated $1,900/mo. Units 503 & 507 also feature new water heaters, with Unit 505's water heater installed in 2019 — added peace of mind on mechanicals. Once leased, projected NOI reaches approximately $50,000+ on gross scheduled income of $66,671. Unit 509 is unfinished and represents additional built-in upside: convert to a 1-bed for an estimated $1,200/mo, pushing the cap rate toward 6%+ with minimal capital outlay. Exterior fully updated — new siding, new paint, front half of roof replaced, plumbing & electrical upgrades completed. Separate legal address on Unit 509 adds flexibility for a refinance. Huge .29-acre lot, 8+ off-street parking spaces, strong Sultan rental demand. Also ideal for an owner-occupant buyer: move into vacant, fully-remodeled Unit 503 with low-down-payment FHA or VA financing and let 505 & 507 help cover the mortgage — turnkey house-hacking made easy.

507 3rd Street, Sultan

Listing courtesy of Realty One Group Orca.

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