South Downtown District, WA homes for sale & real estate

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ABOUT THIS HOME
South Downtown District, WA Homes for Sale
Live or Invest in Downtown Kent — Updated 4-plex. Discover a rare opportunity to own a historic Victorian 4-plex in downtown Kent, just blocks from Kent Station’s restaurants, shops, transit, and commuter access. With highly flexible Downtown Commercial Enterprise (DCE) zoning, the property offers outstanding potential for expansion or redevelopment. Recent updates include a new sewer line, fresh exterior paint, and a new roof with gutters. Each unit offers 1 bed/1 bath with gas heat and stove, plus separately metered utilities for tenant-paid efficiency. 3 units are recently remodeled, and one unit is ready for new possibilities—perfect for an owner-occupant or an investo

$900,000

4 beds4 baths2,209 sq ft

323 1st Ave S, Kent, WA 98032

Fresh exterior paint • New sewer line • 7,680 sq ft lot

Listing provided by NWMLS as Distributed by MLS Grid

ABOUT THIS HOME
South Downtown District, WA Homes for Sale
Fully occupied 7.39% cap rate + Value-add in downtown Kent location - Mixed-use building with 3 retail units and 5 apartments boasts strong in-place rents and ability to renovate remaining two apartment units. Renovated in 2021 including retail spaces. Aladin Bail Bonds anchors ground floor retail with 7 years remaining on lease and yearly 4% increases. Potential for owner-user in need of office or retail space. Apartment units are bright, spacious, and historically easy to rent. Coin-op laundry and 10 parking spaces in dedicated lot. Building includes renovated non-conforming studio (350SqFt) for additional upside.

$1,725,000

8 beds8 baths8,376 sq ft

418 W Meeker St, Kent, WA 98032

Retail units • Ground floor retail • Mixed-use building

Listing provided by NWMLS as Distributed by MLS Grid

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Based on information submitted to the MLS GRID as of Tue Dec 16 2025. 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. Some IDX listings have been excluded from this website.

Average home prices near South Downtown District, WA

Cities

Neighborhoods

The Valley homes for sale
$394,475
East Hill homes for sale
$750,000
Cambridge homes for sale
Lakeridge homes for sale
Meridian homes for sale
$757,500
North Auburn homes for sale
$599,950
Riverview homes for sale
$482,499
Downtown Kent homes for sale
The Lakes homes for sale
$409,500
West Hill Cambridge homes for sale
$830,638

South Downtown District, WA real estate trends

$485K

Sale price

$336

Sale $/sq ft

Under list price

Days on market

Down payment

—

Total homes sold

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