1003 N 1st Street, Renton, WA 98057
- $1,450,000
- 6,735
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $1,450,000
- Status
- PENDING
- MLS#
- 2526901
- Days on Market
- 35
- Style
- 56 - 10+ Units
- Finished SqFt
- 6,735
- Area Total SqFt
- 6735
- Annual Tax Ammount
- 29135
- Lot Size (sq ft)
- 6,760
- Sewer
- Sewer Connected
Property Description
This is a rare opportunity to acquire The Riverside Apartments, a classic building located at 1003 N 1st Street, just blocks from downtown Renton. This 13-Unit property offers investors the opportunity to own a character-rich multifamily property in a tightly held Renton location. The Riverside Apartments feature a mix of studio and one-bedroom units. Current in-place rents average $1,229 for studios and $1,284 for one-bedroom units, while comparable properties in Renton are achieving $1,350-$1,450 for studios and $1,400-$1,550 for one-bedrooms. This gap presents a clear opportunity for a new owner to capture meaningful rental upside through light interior renovations and operational improvements at an attractive price per unit. Ideally located just minutes from downtown Renton, The Landing, and Boeing’s Renton facility, with immediate access to I-405, Highway 167, and the Cedar River Trail, the Riverside Apartments are strategically positioned in a high-demand rental corridor. The property offers a compelling combination of strong in-place income and clear rental upside, supported by a deep and stable employment base and continued demand for well-located housing in the area.
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Additional Information
- List Date
- 2026-06-21 16:53:12
- Community
- Renton
- Net Operating Income
- $97,936
- Gross Adjusted Income
- $189,169
- Gross Scheduled Income
- $198,952
- Total Monthly Income
- $16,579
- Insurance Expenses
- $8,596
- Water/Sewer/Garbage Expenses
- $17,335
- Gross Rent Multiplier
- 7.67
- Total Expenses
- $91,234
- Cap Rate
- 6.75
- Vacancy Rate
- 5
- Total Number of Units
- 13
- Unit Name
- 1003
- Potential Terms
- Cash, Conventional
- Year Built
- 1929
- Roof
- Flat
- Other Expenses
- 36168
- Energy Source
- Electric
- School District
- Renton
- Total Monthly Income
- $16,579
- Gross Scheduled Income
- $198,952
- Vacancy Rate
- 5
- Gross Adjusted Income
- $189,169
- Tax Year
- 2025
- Insurance Expense
- $8,596
- W/S/G Expenses
- $17,335
- Total Expenses
- $91,234
- Net Operating Income
- $97,936
- Gross Rent Multiplier
- 7.67
- Cap Rate
- 6.75
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.