8 beds8 baths5,196 sqft$298/sqft
412 Mill Ave S, Renton, WA 98057
Est: $9,337/moGet pre-approved

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...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 UPDATED: 08/07/2026 02:25 PM

  1. Listed by David W Petersen • Westlake Associates, Inc.
    P: (206)-505-9400 david@westlakeassociates.com
  2. Listed by Chad Michael Martini • Westlake Associates, Inc.
    P: (206)-505-9400 chad@westlakeassociates.com

Property Details for 412 Mill Avenue South

Status
MLS #
2566463
Days on Market
4
Cumulative Days on Market
4
Taxes
$17,505 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income
Year Built
1966
Lot Size
0.12 AC / 5,090 SF
Community Name
Renton
School District
Renton
View
Partial, Territorial
Number of Assigned Spaces
2
Total Covered Parking
0
Entry Date
08-07-2026
Energy Source
Electric
Sewer
Sewer Connected

Location

Listing Courtesy of Westlake Associates, Inc.
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Building Information for 412 Mill Avenue South

Stories3Residences8Year Built1966Building Size-Lot Size0.12 AC / 5,090 SF

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$9,337 per month

30 year fixed, 6.55% Interest

Principal and Interest

$7,878

Property Taxes

$1,459

HOA Dues

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Property Information for 412 Mill Avenue South

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Fenced-Partially
  • Area: 340 - Renton/Benson Hill
  • Directions: From I-405, take Exit 2A (WA-900 W/Sunset Blvd N) toward Downtown Renton. Continue onto S 3rd St, turn right on Mill Ave S. Proceed south approx. 0.3 miles, site on left side of street.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2026
Parking
  • Garage Spaces: 0.0
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking: No
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Ceramic Tile, Vinyl Plank
  • Amenities: Coin Op Laundry,Storage
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard
Exterior Features
  • Exterior: Brick, Wood
  • Roof: Flat
  • Security Features: Partially Fenced
Property
Utilities
  • Water/Sewer/Garbage: 12067
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Zoning Remarks: Multi-Family,Residential
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Residential
  • MLS Square Footage Source: KCA
  • Preliminary Title Ordered: No
  • Senior Community: No
  • Special Listing Conditions: None
  • Photos Count: 20
Lot Information
  • Lot Details: Alley, Curbs, Paved, Sidewalk
  • Lot Size Source: KCA
  • Parcel Number Free Text: 7231500310
  • Calculated Square Footage: 5196
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 5196.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Total Uncovered Parking: 2
  • Number of Stories in Building: 3
  • Vacancy Rate: 5
  • Number Of Units Total: 8
  • Units Below Grade: false
  • Units In Building Total: 8
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 55533
  • Gross Adjusted Income: 137666
  • Gross Rent Multiplier: 10.7
  • Gross Scheduled Income: $144,912
  • Insurance Expense: $9,321
  • Net Operating Income: $82,133
  • Other Expenses: $16,640
  • Total Monthly Income: 12076
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 303
  • Square Feet Unit 1: 649
  • Rent Unit 1: $1,395.00
  • Bedrooms Unit 1: 1
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 302
  • Square Feet Unit 2: 649
  • Rent Unit 2: $1,495.00
  • Bedrooms Unit 2: 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 301
  • Square Feet Unit 3: 649
  • Rent Unit 3: $1,325.00
  • Bedrooms Unit 3: 1
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 203
  • Square Feet Unit 4: 649
  • Rent Unit 4: $1,395.00
  • Bedrooms Unit 4: 1
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 202
  • Square Feet Unit 5: 649
  • Rent Unit 5: $1,445.00
  • Bedrooms Unit 5: 1
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 201
  • Square Feet Unit 6: 649
  • Rent Unit 6: $1,425.00
  • Bedrooms Unit 6: 1
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 102
  • Square Feet Unit 7: 649
  • Rent Unit 7: $1,495.00
  • Bedrooms Unit 7: 1
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 101
  • Square Feet Unit 8: 649
  • Rent Unit 8: $1,495.00
  • Bedrooms Unit 8: 1
  • Bathrooms Unit 8: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 5196.0

Property History for 412 Mill Avenue South

DateEvent & SourcePriceAppreciation
Aug 7, 2026

Listed (Active)

NWMLS #2566463

$1,550,000
Jan 31, 2017

Sold

NWMLS #965420

$925,000
Jan 26, 2017

Sold (Public Record)

Public Record #587376660

$925,000

+4.4% / yr

DateEvent & SourcePrice
08/07/2026

Listed (Active)

NWMLS #2566463

$1,550,000
01/31/2017

Sold

NWMLS #965420

$925,000
01/26/2017

Sold (Public Record)

Public Record #587376660

$925,000

+4.4% / yr

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 412 Mill Avenue South

Taxable ValueLand$152,700Additions$1,405,300Total$1,558,000
Tax Record2026$17,505 ($1,459 / month)
Home Facts
Total Finished SqFt5,196 SqFtAbove Ground SqFt5,196 SqFtStories2Lot Size5,090 SqFtStyleMulti-Family Res (5+ Units)Year Built1966Year Renovated2000ZoningR-10CountyKINGAPN723150-0310

Schools near 412 Mill Avenue South

This home is within Renton School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Talbot Hill Elementary School
PublicK to 5

Dimmitt Middle School
Public6 to 8

Renton Senior High School
Public9 to 12

Sartori Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

412 Mill Avenue South is a multi-family home for sale in Renton, WA 98057. This property was listed for sale on August 7, 2026 by Westlake Associates, Inc., it's currently listed at $1,550,000. It has been on the market for a total of 4 days and was last sold on January 31, 2017. This listing's school district is Renton School District. Nearby schools include Talbot Hill Elementary School, Dimmitt Middle School and Renton Senior High School. 412 Mill Avenue South is a 8-bed, 8-bath, 5,196 sqft multi-family home built in 1966.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Westlake Associates, Inc.

Based on information submitted to the MLS GRID as of 08/07/2026 02:25 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.